Here Is Everything You Need To Know About The Leighton Holdings Fallout So Far

Former CEO Wal King. Photo: AFP

The bribery scandal engulfing Leighton Holdings has claimed another executive with the company’s CEO of Engineering, Russell Waugh, resigning today.

Leighton shares have been smashed on the market since allegations of widespread use of kickbacks were first reported last week.

Here is a graph of the Leighton Holdings share prices since the initial reports:

Since the bribery allegations were reported three top executives have resigned from their positions. A class action has also been brought against the company after more than $957 million was wiped off its share market value.

The Leighton executives to resign so far are:

  • David Stewart: Former acting chief executive of Leighton has stepped down as chief executive of UK contractor Laing O’Rourke’s Australian business on Tuesday.
  • David Savage: Former Leighton International’s managing director has stepped down from the board of UK engineering group Keller plc over the weekend.
  • Russell Waugh: Former Leighton managing director has stepped down from his position as chief executive of UGL’s engineering business.
  • Wal King, Former Leighton Holdings CEO for 23 years, has demanded an apology from Fairfax over allegations made against him.

    Now read: What The CEOs Of The Largest Australian Companies Are Paid

    Follow Business Insider Australia on Facebook and Twitter

    Business Insider Emails & Alerts

    Site highlights each day to your inbox.

    Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.