Trailer Magazine

Boral announces leadership change

  • Posted on Thursday 25th, June 2020.

Building material company, Boral, has named a new CEO and Managing Director.

Zlatko Todorcevski – who has 30 years of experience in Australia and internationally in steel building products, oil and gas, logistics, finance, business planning and strategic roles – has accepted the role of CEO and Managing Director, effective 1 July 2020.

Todorcevski was Chief Financial Officer (CFO) at Brambles (2012-2016) and Oil Search (2009-2012). This reportedly followed a career at BHP in senior finance and business development roles across BHP's steel building products and petroleum businesses, culminating in the role of CFO Energy at BHP based in the US.

Since March 2017, Todorcevski has been on the Board of construction materials company, Adelaide Brighton, where he has served in the capacity of Chairman and since May 2019 as Deputy Chairman and
Lead Independent Director.

He will step down from the Adelaide Brighton Board, effectively immediately.

Todorcevski is also on the Board of Coles Group, where he serves as Chairman of the Audit and Risk Committee, and The Star Entertainment Group, where he is Chair of the Audit Committee. He will complete an orderly transition off those Boards over the coming months.

Boral Chair of the Board, Kathryn Fagg, said that after an extensive search for a new CEO, Todorcevski has proven to be an outstanding candidate.

“With exceptional commercial acumen, strategic insight and a focus on return on capital, Zlatko has a strong track record as a senior executive in a number of large industrial and energy companies, with international operations.

“His experience in leading major transformations, including business turnarounds, as well as in capital allocation and strategic portfolio management, are critically important for Boral.

“Zlatko’s mandate as Boral’s CEO is at the outset to set a clear operational plan, including how to manage through the current challenging conditions, and to work with the Board to finalise the review of the operational performance and strategic positioning of the businesses within Boral’s portfolio."

Fagg said Todorcevski will deliver a strategy to strengthen the financial performance of Boral and improve returns for shareholders.

Todorcevski said he was looking forward to the challenges ahead, working with Boral’s people and leading Boral as it resets its business.

“It’s a great honour to be appointed as Boral’s next CEO & Managing Director," he said.

“I see my job as helping to shape Boral’s future and ensuring that a company with such a proud 75-year history and heritage continues to thrive and prosper for many years into the future.

“This is a great, iconic Australian company, with an excellent brand, a committed and passionate workforce, strong market positions, and solid underlying business fundamentals."

Todorcevski aims to use his strategic and commercial expertise and knowledge of the sector to strengthen Boral's business in the pursuit of running a safer and more sustainable company.

In April, Boral Logistics modernised its fleet with AZMEB side tipper road trains.

(Image: Zlatko Todorcevski.)

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