Harold Clough has stepped down from the engineering company founded by his father.
Harold Clough has stepped down from the engineering company founded by his father.
Mr Clough is the final Clough family member to leave the group after Jock Clough resigned last year.
Harold Clough's resignation comes after the Clough family company McRae Investments Pty Ltd sold 28 million shares for $19.9 million on the stock market on Friday, halving theire from 11.1 per cent to 5.6 per cent.
Harold Clough, a non-executive director, had been with the company for more than 50 years, serving as managing director until 1988.
A Clough announcement is pasted below:
After a prominent and successful engineering career spanning more than 50 years, William Harold Clough AO, OBE resigned from the Board of Western Australian engineering and construction contractor Clough Limited on Friday 26 October 2007.
Mr Clough, whose father founded the company in 1919, reshaped the original Perth building company into a multi-disciplined international organisation. He joined the Clough family company in 1954, serving as Managing Director until 1988, Chairman of Clough Limited until late 2002, and since then as non-executive Director.
Harold Clough has been a leading light in the advancement of the engineering profession and recognised through arange of prestigious awards including Queen's Honours in 1977, 1979 and 1990. He deservedly received the WA Citizen of the Year in Industry and Commerce in 1983, and won the Australasian Institution of Electrical Engineers James N Kirby Award and the Institution of Engineers Australia Peter Nicol Russell Memorial Medal in 1993. The following year Harold was further recognised by his peers receiving the Australian Institute of Company Directors (WA) inaugural gold medal for contributions to engineering, industry and commerce.
More recently, in 1997, in recognition of his lifelong devotion to the construction industry, Harold received a Services to Construction Award from the Australian Contractors' Association. In April 2000, Harold was also named one of Australia's Export Heroes. He was later, in June 2005, presented with the Sir Edward 'Weary' Dunlop Asia Medal for his long term commitments to Australia-Asia relations.
In 1973 Harold introduced a very successful undergraduate scholarships and grants program that has resulted in many engineering appointments, with some becoming past Clough directors. "Harold Clough is a highly respected entrepreneur in our industry and has been much loved by employees who have had the opportunity to work with him," said Clough Chairman Mike Harding.
"He has worked tirelessly for this company and will be sorely missed. The Board, management and staff thank him for his dedication and wish him well for the future."
Mr Clough's resignation marks the end of Clough family representation on the Board. Mr Jock
Clough resigned his position in August this year.
