Aveng chairman Eric Diack to retire

Eric worked with the CFO and CEO to ensure the company's sustainable future amid Covid-19.

Aveng has announced the retirement of Eric Diack as executive chairman with effect from 30 April. 

According to a statement by the construction company, Eric, together with CFO Adrian Macartney and CEO Sean Flanagan, has been pivotal in: 

  • Developing and implementing the company’s strategic review, ensuring the company’s sustainable future;
  • Undertaking a rights issue, completing the early redemption of the convertible bond, the conversion to equity and the issuance of a new debt instrument;
  • Engaging with the company’s South African financiers to negotiate the company’s debt restructuring;
  • Completing the various disposals of non-core businesses; and 
  • Engaging with the company’s stakeholders during this critical juncture.

The company thanked Eric for his steadfast leadership through this period of significant uncertainty.