Duratec Limited announced the resignation of CFO Paul Ryan and the appointment of Ashley Muirhead as Acting Chief Financial Officer. Ms Muirhead has been the Financial Controller at Duratec for the past two years and will immediately commence Acting CFO duties. A permanent appointment to Chief Financial Officer (CFO) is expected to be made in the next 3 - 6 months.

Mr. Ryan has been with Duratec since April 2018 and has provided strong support to the provision of accurate financial reporting. He was a strong contributor during the due diligence process as Duratec transitioned from a private company to an ASX listing in November 2020. Accordingly, the company thanks Mr. Ryan for his valuable contribution over the past five years and wish him all the very best in his future endeavours and career.

Ms Muirhead is a chartered accountant with a broad range of experience in finance including six years as a CFO of an ASX listed provider of engineering services to the oil and gas, marine and renewable energy industry sector. Her key skills include financial risk management, strong financial and statutory reporting to Australian Accounting Standards, and experience in all areas of external and internal auditing processes of the business.