Mr Adolfo Valderas Martinez joins from Iridium Concesiones de Infraestructuras, an ACS Group company, where he was Chairman and Chief Executive Officer. He will relocate to Australia to become Leighton's new chief operating officer as the Australian construction group looks to create a new global business to bid for infrastructure work.

Leighton Holdings Chief Executive Officer Hamish Tyrwhitt said:

"Adolfo's experience in managing a leading global company in the construction and operation of government concessions gives him a unique understanding of the development, financing, construction and operation of public infrastructure.

"We are already working in partnership with Iridium and Dragados, both ACS Group companies, for Melbourne's East West Link road project and with Dragados at North West Rail Link in Sydney. At a time when the Australian nation is seeking to redress its public infrastructure deficit, we are fortunate to be able to tap the skills and capabilities Adolfo has developed during many years with a world- leading public private partnerships company. As part of his role, Adolfo will be responsible for the establishment of FundCo, a financing initiative to fund the Group's participation in future public private partnerships."

Mr Valderas will further consolidate the relationship between Leighton and its ACS-controlled, German major shareholder Hochtief.

Mr Valderas Martinez will supplement the existing management team, reporting to Mr Tyrwhitt. All existing reporting lines to Mr Tyrwhitt and Deputy Chief Executive Officer and Chief Financial Officer Peter Gregg remain in place. The Managing Directors of Thiess, John Holland and Leighton Contractors continue to report to Mr Gregg.

Leighton Holdings Chairman Bob Humphris said:

"The Board supports the decision by Hamish and Peter to appoint Adolfo to this role. We are pleased with the progress that has been made on the 'stabilise, rebase, and grow' strategy, including initiatives taken to strengthen and improve corporate governance and risk management processes and, more recently, to reduce the cost of our operations."