Possible return of King to Al Habtoor Leighton

Wal King, former Leighton Holdings CEO, may make a return to the company to help iron out current difficulties. Photos: Getty

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Newspaper, The Australian, has suggested that former Leighton Holding CEO Wal King is to return to the board as its bids to reverse the company’s fortunes in the Middle East.

The Australian said Al Habtoor Leighton chief executive Laurie Voyer had invited King to join the board of the JV as a non-executive director, to help secure contracts in the region and secure outstanding payments for some key projects.

"There has been an invitation to him by Al Habtoor's UAE (United Arab Emirates) shareholders and Leighton Holdings for him to come on the board as a fifth director. But that is up to Wal. Wal hasn't made that decision yet," Voyer told The Austlralian.

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Recent speculation suggests King had been approached to join the board as part of Spanish construction giant ACS’ desire to stabilise Leighton as part of its hostile takeover bid for Hochtief, a 54% shareholder in Leighton.

Voyer revealed that Mr King's resignation from Al Habtoor had yet to be formally signed off. "My understanding is that in Wal's deal with Leighton Holdings, he was going to resign from all boards. The fact that he is not off the board of Al Habtoor at the moment is a technicality," he said.