Macmahon CEO resigns

Macmahon CEO Ross Carroll has resigned from the company effective immediately.

No reason was given for Carroll's abrupt resignation.

Macmahon chairman Jim Walker will act as executive chairman until a replacement CEO is found.

There have been additional changes at the board level, with deputy chairman Barry Cusack also resigning from the contractor.

Macmahon added: "To reduce  costs the company does not intend to seek a replacement for Mr. Cusack's position at this time."

Commenting on the shake-up at the top, Walker stated that "the board is committed to implementing cost saving measures across the business as the company navigates the current suppressed market for mining services".

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