Cardno Announces Resignation of CEO
Cardno Limited (ASX: CDD) today announced the resignation of its former Chief Executive Officer, Richard Wankmuller.
Being fully aware of the challenges and demands required of the Chief Executive over the coming 12 months and his present health and family requirements, Mr Wankmuller asked the Board to consider his resignation. After deliberation the Board has decided to accept his resignation with immediate effect.
Mr Wankmuller will receive twelve months’ pay in lieu of notice as well as his accrued annual leave entitlements.
Mr Wankmuller has agreed that he will receive the first instalment of his FY16 STI which vests in October 2016. No further STI will be paid and all unvested performance rights under his long term incentive arrangements will lapse.
Mr Wankmuller will have no ongoing role with Cardno Limited.