Leighton fires manager over Iraq contracts scandal

Leighton has dismissed a senior manager over Iraq contracts scandal

Leighton has dismissed a senior manager over 'governance failure' relating to oil contracts in Iraq (file photo).
Leighton has dismissed a senior manager over 'governance failure' relating to oil contracts in Iraq (file photo).

Leighton Holdings has dismissed a senior manager over "governance failure" in Iraq, following an internal review of a subsidiary operation in Iraq.

According to a statement released by the Australian publicly-listed company, the internal review of its subsidiary, Leighton Offshore Pte Limited identified "instances of failures to meet governance standards in respect of the proper documentation of contractual arrangements".

It has been widely reported in the Australian media that the issue concerns payment of bribes to secure up to $1.3 billion in contracts building offshore facilities for Iraq's crude oil exports.

However The Australian reported that manager was not fired for the payment of a bribe, but for changes allegedly made improperly to a series of contracts relating to the project.

"Leighton's values are integral to Leighton's approach to business," said Leighton Holdings' CEO Hamish Tyrwhitt announcing the dismissal.

"No deviation from those values will be tolerated and appropriate disciplinary action will be taken if necessary".

In February Leighton announced that it had made a voluntary referral to the Australian Federal Police (AFP), with the company also beginning an internal review of its Iraqi operations.

Tyrwhitt said that the company is continuing to cooperate with the ongoing federal police investigation.

 

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