BSA Limited snags Transfield Limited exec for CEO

BSA finally fills its empty executive slot.

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Justin Loiseau hails from the great united state of North Carolina, where he started his first business at the ripe age of five: melting crayons into candles. With the infamous Crayola Crash of 1994, Justin moved on to study economics and environmental studies as a Morehead-Cain Scholar at the University of North Carolina. He has worked in a variety of sectors across the globe, from management consulting to the United Nations, and once spent three months examining invasive snails in Vietnam. Justin discovered The Motley Fool in 2012 and it’s been love ever since. Creativity, contrarianism, kerfuffling… what more could one want? When he’s not playing the Fool, you can find Justin at the University of Auckland, where he is pursuing a Masters in Economics as a Rotary Ambassadorial Scholar. Justin finds biogas digesters fascinating and can unicycle a mile in seven minutes.

Published January 14, 2014 11:47 pm AEDT

Transfield Services Limited's (ASX: TSE) chief executive of Australia & New Zealand Infrastructure, Nicholas Yates, is headed to BSA Limited (ASX: BSA). The two companies released simultaneous statements Tuesday, with Transfield noting that this move is a "further career progress" for the executive.

Mr. Yates has been employed with Transfield since the company acquired consulting firm APP seven years ago, and has held his chief executive post since January 2011. Transfield managing director and CEO Graeme Hunt thanked Mr. Yates for his work, wishing him all the best in his new role.

For BSA, Mr. Yates' new appointment is the result of a "comprehensive search process," following the resignation of its previous CEO and managing director on November 4. The company expects its newest appointee to assume his position in early March 2014.

Foolish takeaway

Corporate executive switchups are a fairly normal occurrence, and this latest move is nothing to be alarmed about. For Transfield, Mr. Yates' departure will simply have to be factored into the company's larger review of its operating model, which it will publicly reveal in more detail during its half-year results on February 27.

For BSA Limited, the appointment finally fills in a loose cog in its corporate team. This should allow the company to focus on more important fundamentals in the months to come.

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