Macmahon Holdings CEO Sybrandt van Dyk resigns
CEO Sybrandt van Dyk’s departure comes after the mining services company’s early exit from Nigeria.
Mining services company Macmahon Holdings has announced the resignation of chief executive Sybrandt van Dyk just a week after its shares were hit by news of an early exit from Nigeria and persistent red ink in relation to its services for Newcrest’s Telfer mine.
The embattled group (MAH) said Mr van Dyk had opted to head up an unlisted dewatering business in which he will claim a financial stake.
Macmahon will tap its current general manager of surface mining, Michael Finnegan, to assume the top job from Mr van Dyk’s departure in mid-November.
“During his time with Macmahon Sybrandt has been instrumental in steering the company through a major transformation and we wish him all the best in his future endeavours,” chairman Jim Walker said.
Macmahon shares most recently traded at 11c, after trading as high as $2 just ahead of the financial crisis.
