UGL extends CEO's contract

UGL chief executive Richard Leupen will stay in the job for 13 months longer than previous plannned to oversee a demerger.

UGL has extended the contract of its chief executive for another 13 months as it moves to split its engineering and property businesses.

Richard Leupen, who had been due to step down in March 2014, now will stay until April 2015.

Chairman Trevor Rowe said the extra time would allow Mr Leupen to oversee the demerger of UGL's property business DTZ from the company's engineering business.

"Richard's primary focus during the extension period will be to prepare DTZ and Engineering as quickly as possible for separation and to oversee the recent appointments by the board of the DTZ and Engineering CEOs," he said in a statement on Wednesday.

Mr Leupen's extended contract includes fixed remuneration of $2.08 million per year, plus a $1.5 million strategic incentive fee.


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Source: AAP


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