Leighton Holdings Limited (Leighton) announced that its internal review of the Iraq projects undertaken by its subsidiary, Leighton Offshore Pte Limited, has identified instances of failures to meet governance standards in respect of the proper documentation of contractual arrangements. As a consequence, a senior manager has been dismissed.
Leighton Holdings' Chief Executive Officer, Hamish Tyrwhitt, said, "Leighton's values are integral to Leighton's approach to business. No deviation from those values will be tolerated and appropriate disciplinary action will be taken if necessary".
The internal review followed the announcement in February that the Company had made a voluntary referral to the Australian Federal Police (AFP). Leighton is continuing to cooperate with the ongoing AFP investigation.”