Austal's founding Chairman, John Rothwell, will retire from the role on 1 July 2024 to take up a position as a non-executive board member. He will be replaced by Richard V Spencer, who was the US Secretary of the Navy between 2017 and 2019.
“I’m incredibly proud of what Austal has achieved during my time as Chairman. I have been considering stepping back from the Chair role for a few years now, and having just turned 80 and with an excellent replacement in Richard, the time is right," Rothwell said.
Spencer, who will also join the Austal USA board on 1 July, was selected by the Austal board based on his character;
strong business acumen; in-depth knowledge of the US defence industrial base; and enduring relationships with the Australian and/or US defence sector.
"Austal’s position in the US and Australian defence industry landscape has been built on a foundation of innovation and commitment to delivering a quality product to the men and women in the US and Australian navies," Spencer said.
"I have kept a close watch on the Company’s progress in the USA. Its expansion from a two-ship yard to a multi-program provider, including command deck modules for the United States’ nuclear submarines, has been impressive," he added.