Founding Partner Departs Austal

After 14 years of service and as one of the founding partners of Austal Ships, Kevin Stanley has chosen to depart the Company to pursue other interests.

Mr Stanley fulfilled many production related portfolios over his years of service with Austal and was significantly involved with the operational establishment of Austal USA.

Both Mr Stanley and Austal’s board of Directors feel that these portfolios are now adequately managed by senior members of the company, enabling Mr Stanley to follow other pursuits.

Mr Stanley will be stepping down from his position as a director on the board on 15 October 2002 however, he will provide consulting services to the Austal group on an as needed basis.

Chairman of Austal Limited, Mr John Rothwell said, “I understand and support Kevin’s decision and recognise that his many skills were vital to the company during its formative years and contributed significantly to where we are today. Whilst Kevin’s working relationship will diminish, our personal friendship will not,” Mr Rothwell said.