Monadelphous Group Limited announced changes to the composition of the Board of Directors, in accordance with the Company's long-term Board succession plan, which will take effect at the conclusion of the Company's Annual General Meeting (AGM) on 22 November 2022. After more than 30 years of service, Mr. John Rubino, Executive Chairman, will retire as a Director of the Company, and will not be seeking re-election at the AGM for health reasons. Mr. Rubino was appointed to the Board of Monadelphous on 18 January 1991 as Managing Director.

On 30 May 2003, John resigned as Managing Director and has continued to loyally serve as Executive Chairman of the Board up to the present day, having dedicated himself to the success of the business. Following Mr. Rubino's retirement, Mr. Rob Velletri, Managing Director, will take on the role of Executive Chairman of the Board of Monadelphous Group Limited. Rob joined Monadelphous in 1989 as Group General Manager after having commenced his career at Alcoa.

He was appointed to the Monadelphous Board on 26 August 1992, assuming the role of Managing Director on 30 May 2003. Rob is a mechanical engineer with more than 40 years' experience in the construction and engineering services industry and is a member of the Institution of Engineers Australia. Under his guidance as Managing Director over the past 19 years, Monadelphous has become one of the most respected engineering services providers in Australia.

The Board unanimously supports Mr. Velletri's appointment to the role of Executive Chairman noting his thorough knowledge of the industry, the Company and its stakeholders, his demonstrated commitment and dedication to Monadelphous and the significant and valuable contribution he has made to Monadelphous for in excess of 30 years. Mr. Peter Dempsey has also provided notice of his intention to retire as a Non-Executive Director of Monadelphous, effective at the close of the AGM. Peter was appointed to the Board of Monadelphous in May 2003 and throughout his 19-year term, he has made a significant contribution to the Company's sustained growth and success.

Peter has been a highly valued member of the Board and its subcommittees, including in his role as Deputy Chair /Lead Independent Non-Executive Director of the Board and Chair of the Audit Committee.