Bumi Plc, the coal producer that plunged 69 percent last year amid a dispute over control, set up a February showdown with co-founder Nathaniel Rothschild after the financier moved to take over the company.
Leighton Holdings Ltd. directors shortlisted two internal candidates to succeed Chief Executive Officer Wal King, the Australian newspaper reported, citing unidentified people familiar with the matter. Frontrunners to make the list were Chief Operating Officer David Stewart and David Saxelby, managing director of the construction company’s Thiess unit, according to the report.
Leighton Holdings Ltd. Chief Executive Officer Wal King received support from the company’s controlling shareholder, Hochtief AG, to remain in his role, the Australian newspaper said, citing Leighton Chairman David Mortimer. Mortimer resolved tensions between Hochtief and King, the newspaper reported, without saying how long King might stay in charge.
Hochtief AG , Germany’s largest publicly traded builder, said pretax profit may fall 50 percent this year after its Australian unit predicted a loss and said it would sell stock. Hochtief shares fell the most in two years.
Leighton Holdings Ltd. , Australia’s biggest construction company, plunged the most in almost six months in Sydney trading after forecasting an A$85 million ($84.7 million) cut to first-quarter profit.