Road-rail crane provider Boom Logistics will appoint Tony Spassopoulos as its new chief executive following the retirement of Brenden Mitchell at the beginning of next year.
Spassopoulos currently serves as Boom’s chief operating officer and director of sales. He will take over as chief executive when Mitchell retires on February 15, 2019.
“I have worked alongside Tony for over ten years and known him professionally for over two decades and it has been a privilege,” Mitchell said. “He is the right leader for the business and I have every confidence that his vision and strategy will continue to strengthen the business and build its respected reputation in the market.”
Boom operates a fleet of 300 cranes and 200 travel towers used in the infrastructure and civil construction sectors, including a number of road-rail cranes.
Its cranes have been used in major transport projects like the $14 million upgrade of the Olympic Drive rail overbridge in Sydney.
The CEO announcement was made alongside the release of Boom’s FY18 figures: a net loss after tax of $1.55 million was a vast improvement from a $22.6 million net loss in FY17, and revenue improved 22% to $183.1 million.
“We have over the last three years worked hard to improve the fundamentals of the business by ensuring we can respond with flexible service offerings to our customers,” Mitchell said.
“We have demonstrated the operational leverage in the business and with further growth can deliver positive earnings and ultimately deliver real value to our shareholders.”