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June 15 (Reuters) - Australian building materials maker Boral Ltd (BLD) on Monday named industry veteran Zlatko Todorcevski to succeed outgoing chief executive officer Mike Kane, who will retire in September.
Todorcevski, a 30-year professional, takes the top job at a time when Boral is grappling with the coronavirus pandemic and the fallout from a probe that revealed accounting irregularities at its North American window-making business.
Kane had announced his decision to retire in February. Chairman Kathryn Fagg said Todorcevski's priority would be to lay out a "clear operational plan" for the company, including how to manage the existing market conditions and finalising a business and portfolio review.
"His experience in leading major transformations, including business turnarounds, as well as in capital allocation and strategic portfolio management, are critically important for Boral," Fagg said.
Todorcevski, who previously held senior roles at miner BHP (BHP) , and was chief financial officer at logistics firm Brambles Ltd (BXB) and Oil Search (OSH) , will begin at Boral on July 1.
He will be paid an annual salary of A$1.9 million ($1.30 million), as well as performance-based, long-term incentives.
($1 = 1.4639 Australian dollars)
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