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2026-11-06
◂ Monitor MAH ASX

MACMAHON HOLDINGS LIMITED

Producer · Gold · Copper · Lithium · Others · AU · ID · MY Rating locked: sign in to view v8 · mah-20261024t204114-full
Last 2026-11-06
A$0.93
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A$2B
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A$2.1B
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A$309.7M
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A$326M
2 newer ASX announcements not yet reflected in this valuation

People, delivery and responsibility

Management background checks

Evidence through 2026-10-31

Research assessment

Executive team

Rating locked: sign in to viewTeam rating and score are available to subscribers

The team combines long-tenured mining contracting, finance, people, safety and civil-construction experience. FY2026 revenue and profit increased, while a fatality at Fosterville remains under investigation. The 2021 inquiry identified workplace harassment-control issues. A senior executive previously led Arabtec during a major loss before its later dissolution; personal causation is unestablished. The civil infrastructure East leader in the V8 roster, Simon Barnes, joined Fulton Hogan in October 2026; his Macmahon successor is not identified.

Decision-relevant facts

Material summary

Individual involvement and employer context shown separately

Michael Finnegan

Managing Director and Chief Executive Officer

Current
Full background report for Michael Finnegan
Company SuccessDocumented · Medium materiality

FY2026 company results

Macmahon reported revenue of A$2.619bn and statutory net profit of A$101.135m in FY2026 versus A$2.427bn and A$73.944m in FY2025. This is a consolidated company outcome, including acquisitions, not evidence of personal contribution.

Role overlaps event; causation unproven · The executive held a senior role during the period; individual causal contribution is not isolated.

Annual Report FY2026 · physical PDF p.150 consolidated income statement
SafetyDocumented · High materiality

Fosterville fatality and ongoing investigation

A Macmahon employee died in a 5 December 2025 underground event at Fosterville. The chair said at the 23 October 2026 AGM that investigations were ongoing. The issuer reported FY2026 TRIFR 1.98 versus 2.99 in FY2025; this metric does not offset the fatality.

Role overlaps event; causation unproven · The person held a group or underground leadership role during the event; sources do not establish individual causal responsibility, specific site actions, or a final investigation outcome.

Underground mine event · 5 December 2025 company statement
FY2026 AGM transcript · chair remarks on Fosterville and ongoing investigation
Annual Report FY2026 · physical PDF p.18 CEO safety and FY2026 rates
GovernanceDocumented · High materiality

FIFO harassment inquiry and company response

In 2021 the WA parliamentary inquiry heard company evidence about harassment reports and company procedures. Finnegan acknowledged prevention and screening had failed female workers; the company reported changes to screening, reporting and roster practices. Its written response identified HR investigations reporting to people GM Nicola Hamilton. This concerns organisational controls; it is not a personal harassment finding.

Individual involvement documented · Finnegan personally gave the cited testimony; Hamilton appeared and was responsible for the reported HR reporting line. No source identifies either as a perpetrator.

Macmahon evidence on sexual harassment · 10 November 2021 inquiry evidence and company response
Macmahon responses to FIFO inquiry · pp.1–2 written answers and reporting line
Annual Report FY2026 · physical PDF p.58 Respect@Macmahon reporting
Evidence gaps · 4
  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.
  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.
  • The completed Fosterville investigation, cause and individual responsibilities were unavailable through the cutoff.
  • Final recoveries on the Calidus receivable and individual decision-making are not established.

Full background report

Michael Finnegan

Managing Director and Chief Executive Officer

Career chronology

  • Mining and operational executive; CEO since November 2016 and managing director since October 2019.: Macmahon Holdings Limited — Managing Director and Chief Executive Officer. Annual Report FY2026 (physical PDF p. 42, executive biography); CEO resignation and appointment (p.1 CEO appointment and 2014 joining); Board and management (Michael Finnegan biography, CEO since 2016 and MD since October 2019)

Education and qualifications

Qualifications and verification

Education dates not established · issuer reported · low materiality

The issuer’s 2016 appointment announcement reports a Bachelor of Science (Mining) from the Western Australian School of Mines; its FY2026 annual report also repeats BSc (Mining) in the board biography. The degree has not been independently verified with the institution.

Attribution: Responsibility not applicable. Issuer or professional biography reports qualifications; no direct independent verification is implied.

Relevance: Relevant to assessing professional preparation.

Annual Report FY2026 (physical PDF p.38 (printed p.36), Finnegan board biography and qualifications); CEO resignation and appointment (p.1, Additional information: Michael Finnegan)

Contributions and company outcomes

FY2026 company results

FY2025–FY2026 · documented · medium materiality

Macmahon reported revenue of A$2.619bn and statutory net profit of A$101.135m in FY2026 versus A$2.427bn and A$73.944m in FY2025. This is a consolidated company outcome, including acquisitions, not evidence of personal contribution.

Attribution: Role overlaps event; causation unproven. The executive held a senior role during the period; individual causal contribution is not isolated.

Relevance: Shows company-level financial delivery during the role.

Annual Report FY2026 (physical PDF p.150 consolidated income statement)

Business failures and setbacks

Calidus administration and impaired receivable

June–August 2024 · issuer reported · medium materiality

Macmahon reported that client Calidus entered administration in June 2024 and its Warrawoona operations entered care and maintenance. Macmahon fully impaired an A$31.8m receivable at FY2024; management then expected a possible route to recovery through the receivers’ sale or recapitalisation process. Final recoveries are not established here.

Attribution: Role overlaps event; causation unproven. A senior executive held the stated position; neither the client failure nor the impairment establishes personal responsibility.

Relevance: Material counterparty and credit-risk outcome during the executive team’s tenure.

Macmahon annual report 2024 (printed pp.18 and 24, Warrawoona and financial review)

Industrial safety

Fosterville fatality and ongoing investigation

December 2025–October 2026 · documented · high materiality

A Macmahon employee died in a 5 December 2025 underground event at Fosterville. The chair said at the 23 October 2026 AGM that investigations were ongoing. The issuer reported FY2026 TRIFR 1.98 versus 2.99 in FY2025; this metric does not offset the fatality.

Attribution: Role overlaps event; causation unproven. The person held a group or underground leadership role during the event; sources do not establish individual causal responsibility, specific site actions, or a final investigation outcome.

Relevance: Material to oversight of workplace safety.

Underground mine event (5 December 2025 company statement); FY2026 AGM transcript (chair remarks on Fosterville and ongoing investigation); Annual Report FY2026 (physical PDF p.18 CEO safety and FY2026 rates)

Governance and interests

FIFO harassment inquiry and company response

2021 and subsequent company-reported programs · documented · high materiality

In 2021 the WA parliamentary inquiry heard company evidence about harassment reports and company procedures. Finnegan acknowledged prevention and screening had failed female workers; the company reported changes to screening, reporting and roster practices. Its written response identified HR investigations reporting to people GM Nicola Hamilton. This concerns organisational controls; it is not a personal harassment finding.

Attribution: Individual involvement documented. Finnegan personally gave the cited testimony; Hamilton appeared and was responsible for the reported HR reporting line. No source identifies either as a perpetrator.

Relevance: Relevant to workforce governance and company prevention controls.

Macmahon evidence on sexual harassment (10 November 2021 inquiry evidence and company response); Macmahon responses to FIFO inquiry (pp.1–2 written answers and reporting line); Annual Report FY2026 (physical PDF p.58 Respect@Macmahon reporting)

Suitability for the current role

Role-relevant professional experience

Through 2026-10-31 · analyst inference · low materiality

As an analytical inference, the reported experience is relevant to managing director and chief executive officer: Mining and operational executive; CEO since November 2016 and managing director since October 2019. The degree of individual contribution to past company outcomes is not established.

Attribution: Responsibility not applicable. Analytical assessment based on disclosed career; it is not a finding of personal delivery or misconduct.

Relevance: Matches documented experience to the role.

Annual Report FY2026 (physical PDF p. 42, executive biography)

Evidence gaps

  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.

  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.

  • The completed Fosterville investigation, cause and individual responsibilities were unavailable through the cutoff.

  • Final recoveries on the Calidus receivable and individual decision-making are not established.

Ursula Lummis

Chief Financial Officer

Current
Full background report for Ursula Lummis
FailureIssuer Reported · Medium materiality

Calidus administration and impaired receivable

Macmahon reported that client Calidus entered administration in June 2024 and its Warrawoona operations entered care and maintenance. Macmahon fully impaired an A$31.8m receivable at FY2024; management then expected a possible route to recovery through the receivers’ sale or recapitalisation process. Final recoveries are not established here.

Role overlaps event; causation unproven · A senior executive held the stated position; neither the client failure nor the impairment establishes personal responsibility.

Macmahon annual report 2024 · printed pp.18 and 24, Warrawoona and financial review
Evidence gaps · 3
  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.
  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.
  • Final recoveries on the Calidus receivable and individual decision-making are not established.

Full background report

Ursula Lummis

Chief Financial Officer

Career chronology

  • Macmahon group financial controller from 2018, CFO from 1 November 2021; previously KPMG Australia and South Africa.: Macmahon Holdings Limited — Chief Financial Officer. Annual Report FY2026 (physical PDF p. 42, executive biography)

Education and qualifications

Qualifications and verification

Education dates not established · issuer reported · low materiality

The issuer reports a Bachelor of Commerce (Honours) in accounting, auditing and tax and chartered accountant status; independent credential verification is unavailable.

Attribution: Responsibility not applicable. Issuer or professional biography reports qualifications; no direct independent verification is implied.

Relevance: Relevant to assessing professional preparation.

Annual Report FY2026 (physical PDF p. 42, executive biography)

Contributions and company outcomes

FY2026 company results

FY2025–FY2026 · documented · medium materiality

Macmahon reported revenue of A$2.619bn and statutory net profit of A$101.135m in FY2026 versus A$2.427bn and A$73.944m in FY2025. This is a consolidated company outcome, including acquisitions, not evidence of personal contribution.

Attribution: Role overlaps event; causation unproven. The executive held a senior role during the period; individual causal contribution is not isolated.

Relevance: Shows company-level financial delivery during the role.

Annual Report FY2026 (physical PDF p.150 consolidated income statement)

Business failures and setbacks

Calidus administration and impaired receivable

June–August 2024 · issuer reported · medium materiality

Macmahon reported that client Calidus entered administration in June 2024 and its Warrawoona operations entered care and maintenance. Macmahon fully impaired an A$31.8m receivable at FY2024; management then expected a possible route to recovery through the receivers’ sale or recapitalisation process. Final recoveries are not established here.

Attribution: Role overlaps event; causation unproven. A senior executive held the stated position; neither the client failure nor the impairment establishes personal responsibility.

Relevance: Material counterparty and credit-risk outcome during the executive team’s tenure.

Macmahon annual report 2024 (printed pp.18 and 24, Warrawoona and financial review)

Suitability for the current role

Role-relevant professional experience

Through 2026-10-31 · analyst inference · low materiality

As an analytical inference, the reported experience is relevant to chief financial officer: Macmahon group financial controller from 2018, CFO from 1 November 2021; previously KPMG Australia and South Africa. The degree of individual contribution to past company outcomes is not established.

Attribution: Responsibility not applicable. Analytical assessment based on disclosed career; it is not a finding of personal delivery or misconduct.

Relevance: Matches documented experience to the role.

Annual Report FY2026 (physical PDF p. 42, executive biography)

Evidence gaps

  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.

  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.

  • Final recoveries on the Calidus receivable and individual decision-making are not established.

Peter Pollard

Chief Corporate Development Officer

Current
Full background report for Peter Pollard
FailureDocumented · High materiality

Arabtec loss and subsequent liquidation

Arabtec appointed Pollard acting CEO in May 2019 and its preliminary results, signed by him, reported a 2019 loss after tax of AED 849.041m. In April 2020 it announced a CEO handover; in September 2020 shareholders voted to dissolve the company after a further AED 794m first-half loss, and a November announcement said it would seek insolvent liquidation. The issuer attributed pressures to construction-market liquidity and COVID-19.

Role overlaps event; causation unproven · The 2019 loss overlaps his leadership. The dissolution vote and planned liquidation followed the announced handover; the record does not establish personal causation or misconduct.

2019 preliminary results · p.2 2019 results and signature
Arabtec CEO transition · p.1 April 2020 handover announcement
Arabtec shareholder resolution · p.1 September vote and H1 loss
Arabtec to file insolvent liquidation · 30 November liquidation application announcement
Evidence gaps · 4
  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.
  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.
  • The precise completion date of the Arabtec CEO handover, liquidation recovery and individual contribution are not established.
  • Final recoveries on the Calidus receivable and individual decision-making are not established.

Full background report

Peter Pollard

Chief Corporate Development Officer

Career chronology

  • Macmahon CFO from August 2020; consulting role from November 2021; chief corporate development officer from November 2023.: Macmahon Holdings Limited — Chief Corporate Development Officer. Annual Report FY2026 (physical PDF p. 42, executive biography)

  • 2017 to 2020; announced CEO handover April 2020: Arabtec Holding PJSC — Group CFO; acting group CEO; group CEO. Peter Pollard appointed acting CEO (p. 1 CFO and acting CEO appointment); Arabtec CEO transition (p. 1 handover announcement)

Education and qualifications

Qualifications and verification

Education dates not established · issuer reported · low materiality

The issuer reports a Bachelor of Business; independent award verification was not located.

Attribution: Responsibility not applicable. Issuer or professional biography reports qualifications; no direct independent verification is implied.

Relevance: Relevant to assessing professional preparation.

Annual Report FY2026 (physical PDF p. 42, executive biography)

Contributions and company outcomes

FY2026 company results

FY2025–FY2026 · documented · medium materiality

Macmahon reported revenue of A$2.619bn and statutory net profit of A$101.135m in FY2026 versus A$2.427bn and A$73.944m in FY2025. This is a consolidated company outcome, including acquisitions, not evidence of personal contribution.

Attribution: Role overlaps event; causation unproven. The executive held a senior role during the period; individual causal contribution is not isolated.

Relevance: Shows company-level financial delivery during the role.

Annual Report FY2026 (physical PDF p.150 consolidated income statement)

Business failures and setbacks

Arabtec loss and subsequent liquidation

2019–2020 · documented · high materiality

Arabtec appointed Pollard acting CEO in May 2019 and its preliminary results, signed by him, reported a 2019 loss after tax of AED 849.041m. In April 2020 it announced a CEO handover; in September 2020 shareholders voted to dissolve the company after a further AED 794m first-half loss, and a November announcement said it would seek insolvent liquidation. The issuer attributed pressures to construction-market liquidity and COVID-19.

Attribution: Role overlaps event; causation unproven. The 2019 loss overlaps his leadership. The dissolution vote and planned liquidation followed the announced handover; the record does not establish personal causation or misconduct.

Relevance: Material prior contracting-company outcome relevant to corporate development and financial judgment.

Peter Pollard appointed acting CEO (p.1 appointment); 2019 preliminary results (p.2 2019 results and signature); Arabtec CEO transition (p.1 April 2020 handover announcement); Arabtec shareholder resolution (p.1 September vote and H1 loss); Arabtec to file insolvent liquidation (30 November liquidation application announcement)

Calidus administration and impaired receivable

June–August 2024 · issuer reported · medium materiality

Macmahon reported that client Calidus entered administration in June 2024 and its Warrawoona operations entered care and maintenance. Macmahon fully impaired an A$31.8m receivable at FY2024; management then expected a possible route to recovery through the receivers’ sale or recapitalisation process. Final recoveries are not established here.

Attribution: Role overlaps event; causation unproven. A senior executive held the stated position; neither the client failure nor the impairment establishes personal responsibility.

Relevance: Material counterparty and credit-risk outcome during the executive team’s tenure.

Macmahon annual report 2024 (printed pp.18 and 24, Warrawoona and financial review)

Suitability for the current role

Role-relevant professional experience

Through 2026-10-31 · analyst inference · low materiality

As an analytical inference, the reported experience is relevant to chief corporate development officer: Macmahon CFO from August 2020; consulting role from November 2021; chief corporate development officer from November 2023. The degree of individual contribution to past company outcomes is not established.

Attribution: Responsibility not applicable. Analytical assessment based on disclosed career; it is not a finding of personal delivery or misconduct.

Relevance: Matches documented experience to the role.

Annual Report FY2026 (physical PDF p. 42, executive biography)

Evidence gaps

  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.

  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.

  • The precise completion date of the Arabtec CEO handover, liquidation recovery and individual contribution are not established.

  • Final recoveries on the Calidus receivable and individual decision-making are not established.

Nicola Hamilton

Chief People Officer

Current
Full background report for Nicola Hamilton

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 2
  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.
  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.

Full background report

Nicola Hamilton

Chief People Officer

Career chronology

  • Joined Macmahon in February 2021; chief people officer with prior people-management roles in resources.: Macmahon Holdings Limited — Chief People Officer. Annual Report FY2026 (physical PDF p. 43, executive biography)

Education and qualifications

Qualifications and verification

Education dates not established · issuer reported · low materiality

The issuer reports a Bachelor of Arts (Honours) in Human Resource Management; university award verification is unavailable.

Attribution: Responsibility not applicable. Issuer or professional biography reports qualifications; no direct independent verification is implied.

Relevance: Relevant to assessing professional preparation.

Annual Report FY2026 (physical PDF p. 43, executive biography)

Governance and interests

FIFO harassment inquiry and company response

2021 and subsequent company-reported programs · documented · high materiality

In 2021 the WA parliamentary inquiry heard company evidence about harassment reports and company procedures. Finnegan acknowledged prevention and screening had failed female workers; the company reported changes to screening, reporting and roster practices. Its written response identified HR investigations reporting to people GM Nicola Hamilton. This concerns organisational controls; it is not a personal harassment finding.

Attribution: Role overlaps event; causation unproven. Finnegan personally gave the cited testimony; Hamilton appeared and was responsible for the reported HR reporting line. No source identifies either as a perpetrator.

Relevance: Relevant to workforce governance and company prevention controls.

Macmahon evidence on sexual harassment (10 November 2021 inquiry evidence and company response); Macmahon responses to FIFO inquiry (pp.1–2 written answers and reporting line); Annual Report FY2026 (physical PDF p.58 Respect@Macmahon reporting)

Suitability for the current role

Role-relevant professional experience

Through 2026-10-31 · analyst inference · low materiality

As an analytical inference, the reported experience is relevant to chief people officer: Joined Macmahon in February 2021; chief people officer with prior people-management roles in resources. The degree of individual contribution to past company outcomes is not established.

Attribution: Responsibility not applicable. Analytical assessment based on disclosed career; it is not a finding of personal delivery or misconduct.

Relevance: Matches documented experience to the role.

Annual Report FY2026 (physical PDF p. 43, executive biography)

Evidence gaps

  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.

  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.

Maha Chaar

General Counsel and Company Secretary

Current
Full background report for Maha Chaar

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 2
  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.
  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.

Full background report

Maha Chaar

General Counsel and Company Secretary

Career chronology

  • Joined Macmahon in 2021; general counsel from January 2022 and company secretary from January 2024.: Macmahon Holdings Limited — General Counsel and Company Secretary. Annual Report FY2026 (physical PDF p. 43, executive biography)

Education and qualifications

Qualifications and verification

Education dates not established · issuer reported · low materiality

The issuer reports a Master of Laws, Bachelor of Laws (Honours) and Bachelor of Science; independent award and legal-practising status were not checked.

Attribution: Responsibility not applicable. Issuer or professional biography reports qualifications; no direct independent verification is implied.

Relevance: Relevant to assessing professional preparation.

Annual Report FY2026 (physical PDF p. 43, executive biography)

Suitability for the current role

Role-relevant professional experience

Through 2026-10-31 · analyst inference · low materiality

As an analytical inference, the reported experience is relevant to general counsel and company secretary: Joined Macmahon in 2021; general counsel from January 2022 and company secretary from January 2024. The degree of individual contribution to past company outcomes is not established.

Attribution: Responsibility not applicable. Analytical assessment based on disclosed career; it is not a finding of personal delivery or misconduct.

Relevance: Matches documented experience to the role.

Annual Report FY2026 (physical PDF p. 43, executive biography)

Evidence gaps

  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.

  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.

Bryn Vaughan

Executive General Manager HSSEQT

Current
Full background report for Bryn Vaughan

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 4
  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.
  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.
  • The completed Fosterville investigation, cause and individual responsibilities were unavailable through the cutoff.
  • Whether his December 2025 HSSEQT appointment preceded the 5 December event has not been established.

Full background report

Bryn Vaughan

Executive General Manager HSSEQT

Career chronology

  • Joined Decmil in June 2019; joined Macmahon on its 2024 acquisition and became EGM HSSEQT in December 2025; previously senior safety roles at CPB.: Macmahon Holdings Limited — Executive General Manager HSSEQT. Annual Report FY2026 (physical PDF p. 43, executive biography)

  • Before Macmahon acquisition in August 2024: Decmil Group Limited — Group HSES manager. Decmil Annual Report 2023 (pp. 24–25 management biographies); Acquisition of Decmil completed (p. 1 acquisition completion)

Education and qualifications

Qualifications and verification

Education dates not established · issuer reported · low materiality

The issuer reports a Masters degree in occupational health and safety; independent university verification is unavailable.

Attribution: Responsibility not applicable. Issuer or professional biography reports qualifications; no direct independent verification is implied.

Relevance: Relevant to assessing professional preparation.

Annual Report FY2026 (physical PDF p. 43, executive biography)

Business failures and setbacks

Decmil prior financial setbacks

FY2022–August 2024 · documented · medium materiality

The Decmil scheme booklet’s independent expert reports company net losses of A$1.8m in FY2023 and A$1.8m in the half year to December 2023, following a A$103.2m loss in FY2022. Macmahon completed its acquisition of Decmil in August 2024. The FY2022 loss preceded Baddock and Barnes joining Decmil; Vaughan joined in 2019. These are company-level outcomes.

Attribution: Role overlaps event; causation unproven. Executive roles overlapped some reported periods; the sources do not establish an individual causal contribution.

Relevance: Relevant to management of civil contracting and integration.

Decmil scheme booklet independent expert (independent expert section 5.6.1 financial history); Decmil Annual Report 2023 (printed pp.24–25 management biographies); Acquisition of Decmil completed (p.1 completed acquisition)

Industrial safety

Fosterville fatality and ongoing investigation

December 2025–October 2026 · documented · high materiality

A Macmahon employee died in a 5 December 2025 underground event at Fosterville. The chair said at the 23 October 2026 AGM that investigations were ongoing. The issuer reported FY2026 TRIFR 1.98 versus 2.99 in FY2025; this metric does not offset the fatality.

Attribution: Employer context; no individual link established. The issuer says he became group HSSEQT head in December 2025 but the day is unconfirmed; role overlap with the 5 December fatality and personal responsibility are not established.

Relevance: Material to oversight of workplace safety.

Underground mine event (5 December 2025 company statement); FY2026 AGM transcript (chair remarks on Fosterville and ongoing investigation); Annual Report FY2026 (physical PDF p.18 CEO safety and FY2026 rates)

Suitability for the current role

Role-relevant professional experience

Through 2026-10-31 · analyst inference · low materiality

As an analytical inference, the reported experience is relevant to executive general manager hsseqt: Joined Decmil in June 2019; joined Macmahon on its 2024 acquisition and became EGM HSSEQT in December 2025; previously senior safety roles at CPB. The degree of individual contribution to past company outcomes is not established.

Attribution: Responsibility not applicable. Analytical assessment based on disclosed career; it is not a finding of personal delivery or misconduct.

Relevance: Matches documented experience to the role.

Annual Report FY2026 (physical PDF p. 43, executive biography)

Evidence gaps

  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.

  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.

  • The completed Fosterville investigation, cause and individual responsibilities were unavailable through the cutoff.

  • Whether his December 2025 HSSEQT appointment preceded the 5 December event has not been established.

Jason McCallum

Managing Director Surface Mining Australia

Current
Full background report for Jason McCallum

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 2
  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.
  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.

Full background report

Jason McCallum

Managing Director Surface Mining Australia

Career chronology

  • Joined Macmahon in June 2023 and became managing director, surface mining Australia in October 2024; issuer reports earlier BHP, Vale Coal and Yancoal roles.: Macmahon Holdings Limited — Managing Director Surface Mining Australia. Annual Report FY2026 (physical PDF p. 44, executive biography)

Education and qualifications

Qualifications and verification

Education dates not established · issuer reported · low materiality

Independent professional and education credentials were not identified in the issuer biography.

Attribution: Responsibility not applicable. Issuer or professional biography reports qualifications; no direct independent verification is implied.

Relevance: Relevant to assessing professional preparation.

Annual Report FY2026 (physical PDF p. 44, executive biography)

Suitability for the current role

Role-relevant professional experience

Through 2026-10-31 · analyst inference · low materiality

As an analytical inference, the reported experience is relevant to managing director surface mining australia: Joined Macmahon in June 2023 and became managing director, surface mining Australia in October 2024; issuer reports earlier BHP, Vale Coal and Yancoal roles. The degree of individual contribution to past company outcomes is not established.

Attribution: Responsibility not applicable. Analytical assessment based on disclosed career; it is not a finding of personal delivery or misconduct.

Relevance: Matches documented experience to the role.

Annual Report FY2026 (physical PDF p. 44, executive biography)

Evidence gaps

  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.

  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.

Luke Reymond

Managing Director Underground Mining Australia

Current
Full background report for Luke Reymond

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 3
  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.
  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.
  • The completed Fosterville investigation, cause and individual responsibilities were unavailable through the cutoff.

Full background report

Luke Reymond

Managing Director Underground Mining Australia

Career chronology

  • Managing director, underground mining Australia; issuer reports experience in surface and underground operations in Australia, Africa and Asia.: Macmahon Holdings Limited — Managing Director Underground Mining Australia. Annual Report FY2026 (physical PDF p. 44, executive biography)

Education and qualifications

Qualifications and verification

Education dates not established · issuer reported · low materiality

The dated annual-report biography did not establish his qualifications; the undated company website says he studied mining engineering but does not establish an award.

Attribution: Responsibility not applicable. Issuer or professional biography reports qualifications; no direct independent verification is implied.

Relevance: Relevant to assessing professional preparation.

Annual Report FY2026 (physical PDF p. 44, executive biography); Board and management (Luke Reymond management biography; studied mining engineering)

Industrial safety

Fosterville fatality and ongoing investigation

December 2025–October 2026 · documented · high materiality

A Macmahon employee died in a 5 December 2025 underground event at Fosterville. The chair said at the 23 October 2026 AGM that investigations were ongoing. The issuer reported FY2026 TRIFR 1.98 versus 2.99 in FY2025; this metric does not offset the fatality.

Attribution: Role overlaps event; causation unproven. The person held a group or underground leadership role during the event; sources do not establish individual causal responsibility, specific site actions, or a final investigation outcome.

Relevance: Material to oversight of workplace safety.

Underground mine event (5 December 2025 company statement); FY2026 AGM transcript (chair remarks on Fosterville and ongoing investigation); Annual Report FY2026 (physical PDF p.18 CEO safety and FY2026 rates)

Suitability for the current role

Role-relevant professional experience

Through 2026-10-31 · analyst inference · low materiality

As an analytical inference, the reported experience is relevant to managing director underground mining australia: Managing director, underground mining Australia; issuer reports experience in surface and underground operations in Australia, Africa and Asia. The degree of individual contribution to past company outcomes is not established.

Attribution: Responsibility not applicable. Analytical assessment based on disclosed career; it is not a finding of personal delivery or misconduct.

Relevance: Matches documented experience to the role.

Annual Report FY2026 (physical PDF p. 44, executive biography)

Evidence gaps

  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.

  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.

  • The completed Fosterville investigation, cause and individual responsibilities were unavailable through the cutoff.

Deon Baddock

Managing Director Civil Infrastructure West

Current
Full background report for Deon Baddock
FailureDocumented · Medium materiality

Decmil prior financial setbacks

The Decmil scheme booklet’s independent expert reports company net losses of A$1.8m in FY2023 and A$1.8m in the half year to December 2023, following a A$103.2m loss in FY2022. Macmahon completed its acquisition of Decmil in August 2024. The FY2022 loss preceded Baddock and Barnes joining Decmil; Vaughan joined in 2019. These are company-level outcomes.

Role overlaps event; causation unproven · Executive roles overlapped some reported periods; the sources do not establish an individual causal contribution.

Decmil scheme booklet independent expert · independent expert section 5.6.1 financial history
Decmil Annual Report 2023 · printed pp.24–25 management biographies
Acquisition of Decmil completed · p.1 completed acquisition
Evidence gaps · 2
  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.
  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.

Full background report

Deon Baddock

Managing Director Civil Infrastructure West

Career chronology

  • Joined Decmil in November 2022 after NRW roles and joined Macmahon through its 2024 acquisition; managing director civil infrastructure west from September 2025.: Macmahon Holdings Limited — Managing Director Civil Infrastructure West. Annual Report FY2026 (physical PDF p. 44, executive biography)

  • Before Macmahon acquisition in August 2024: Decmil Group Limited — Executive General Manager Western. Decmil Annual Report 2023 (pp. 24–25 management biographies); Acquisition of Decmil completed (p. 1 acquisition completion)

Education and qualifications

Qualifications and verification

Education dates not established · issuer reported · low materiality

The issuer reports civil/structural chartered professional status and postgraduate qualifications; independent register and award records were not reconciled.

Attribution: Responsibility not applicable. Issuer or professional biography reports qualifications; no direct independent verification is implied.

Relevance: Relevant to assessing professional preparation.

Annual Report FY2026 (physical PDF p. 44, executive biography)

Business failures and setbacks

Decmil prior financial setbacks

FY2022–August 2024 · documented · medium materiality

The Decmil scheme booklet’s independent expert reports company net losses of A$1.8m in FY2023 and A$1.8m in the half year to December 2023, following a A$103.2m loss in FY2022. Macmahon completed its acquisition of Decmil in August 2024. The FY2022 loss preceded Baddock and Barnes joining Decmil; Vaughan joined in 2019. These are company-level outcomes.

Attribution: Role overlaps event; causation unproven. Executive roles overlapped some reported periods; the sources do not establish an individual causal contribution.

Relevance: Relevant to management of civil contracting and integration.

Decmil scheme booklet independent expert (independent expert section 5.6.1 financial history); Decmil Annual Report 2023 (printed pp.24–25 management biographies); Acquisition of Decmil completed (p.1 completed acquisition)

Suitability for the current role

Role-relevant professional experience

Through 2026-10-31 · analyst inference · low materiality

As an analytical inference, the reported experience is relevant to managing director civil infrastructure west: Joined Decmil in November 2022 after NRW roles and joined Macmahon through its 2024 acquisition; managing director civil infrastructure west from September 2025. The degree of individual contribution to past company outcomes is not established.

Attribution: Responsibility not applicable. Analytical assessment based on disclosed career; it is not a finding of personal delivery or misconduct.

Relevance: Matches documented experience to the role.

Annual Report FY2026 (physical PDF p. 44, executive biography)

Evidence gaps

  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.

  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.

Simon Barnes

Former Managing Director Civil Infrastructure East

Departed
Full background report for Simon Barnes
GovernanceDocumented · Medium materiality

Leadership transition from Decmil East

Fulton Hogan announced in September 2026 that Barnes was joining from Decmil East, with an expected start of 12 October; its leadership page says he commenced in October. The exact date he left Macmahon and his replacement are not established.

Individual involvement documented · The transition is explicitly disclosed by his new employer; its practical impact on Macmahon is not established.

Fulton Hogan appoints Simon Barnes CEO Australia · appointment announcement, former role and planned start
Fulton Hogan appoints new CEO for Australia · 3 September 2026 appointment announcement
Our leaders · Australian executive profile, October commencement
Evidence gaps · 3
  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.
  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.
  • The precise departure date from Macmahon and the identity of his permanent replacement are not established.

Full background report

Simon Barnes

Former Managing Director Civil Infrastructure East

Career chronology

Education and qualifications

Qualifications and verification

Education dates not established · issuer reported · low materiality

Decmil reports a civil engineering qualification and MBA; independent institutional confirmation was unavailable.

Attribution: Responsibility not applicable. Issuer or professional biography reports qualifications; no direct independent verification is implied.

Relevance: Relevant to assessing professional preparation.

Annual Report FY2026 (physical PDF p. 45, executive biography); Decmil Annual Report 2023 (printed p.25 Simon Barnes biography, civil engineer and MBA)

Business failures and setbacks

Decmil prior financial setbacks

FY2022–August 2024 · documented · medium materiality

The Decmil scheme booklet’s independent expert reports company net losses of A$1.8m in FY2023 and A$1.8m in the half year to December 2023, following a A$103.2m loss in FY2022. Macmahon completed its acquisition of Decmil in August 2024. The FY2022 loss preceded Baddock and Barnes joining Decmil; Vaughan joined in 2019. These are company-level outcomes.

Attribution: Role overlaps event; causation unproven. Executive roles overlapped some reported periods; the sources do not establish an individual causal contribution.

Relevance: Relevant to management of civil contracting and integration.

Decmil scheme booklet independent expert (independent expert section 5.6.1 financial history); Decmil Annual Report 2023 (printed pp.24–25 management biographies); Acquisition of Decmil completed (p.1 completed acquisition)

Governance and interests

Leadership transition from Decmil East

September–October 2026 · documented · medium materiality

Fulton Hogan announced in September 2026 that Barnes was joining from Decmil East, with an expected start of 12 October; its leadership page says he commenced in October. The exact date he left Macmahon and his replacement are not established.

Attribution: Individual involvement documented. The transition is explicitly disclosed by his new employer; its practical impact on Macmahon is not established.

Relevance: Material to continuity of the civil infrastructure East leadership.

Fulton Hogan appoints Simon Barnes CEO Australia (appointment announcement, former role and planned start); Fulton Hogan appoints new CEO for Australia (3 September 2026 appointment announcement); Our leaders (Australian executive profile, October commencement)

Suitability for the current role

Role-relevant professional experience

Through 2026-10-31 · analyst inference · low materiality

Prior civil engineering and regional contracting leadership is relevant to his former Decmil East role. He joined Fulton Hogan as Australia CEO in October 2026. The sources do not isolate individual contribution to past company outcomes.

Attribution: Responsibility not applicable. Analytical assessment based on disclosed career; it is not a finding of personal delivery or misconduct.

Relevance: Matches documented experience to the role.

Annual Report FY2026 (physical PDF p. 45, executive biography)

Evidence gaps

  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.

  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.

  • The precise departure date from Macmahon and the identity of his permanent replacement are not established.

Douglas Hamilton

General Manager Asia and President Director Indonesian business

Current
Full background report for Douglas Hamilton
Personal SuccessDocumented · Medium materiality

Indonesian mining-safety training

Indonesia’s energy ministry reports that Douglas Hamilton, as president director of PT Macmahon Mining Services, addressed a March 2023 mining-safety management training program held with the ministry. Participation documents an action; it does not independently measure its effectiveness.

Individual involvement documented · The ministry names Hamilton as participating; downstream safety outcomes are not attributed to him.

Mine safety management training · 8 March 2023 report, training and participant details
Evidence gaps · 2
  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.
  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.

Full background report

Douglas Hamilton

General Manager Asia and President Director Indonesian business

Career chronology

  • Joined Macmahon in 2016 as Indonesia asset manager, appointed operations manager 2019; general manager Asia and president director Indonesian business; prior roles with Leighton Asia.: Macmahon Holdings Limited — General Manager Asia and President Director Indonesian business. Annual Report FY2026 (physical PDF p. 45, executive biography)

Education and qualifications

Qualifications and verification

Education dates not established · issuer reported · low materiality

The dated annual report does not identify a degree; independent qualifications were not established.

Attribution: Responsibility not applicable. Issuer or professional biography reports qualifications; no direct independent verification is implied.

Relevance: Relevant to assessing professional preparation.

Annual Report FY2026 (physical PDF p. 45, executive biography)

Personal achievements

Indonesian mining-safety training

March 2023 · documented · medium materiality

Indonesia’s energy ministry reports that Douglas Hamilton, as president director of PT Macmahon Mining Services, addressed a March 2023 mining-safety management training program held with the ministry. Participation documents an action; it does not independently measure its effectiveness.

Attribution: Individual involvement documented. The ministry names Hamilton as participating; downstream safety outcomes are not attributed to him.

Relevance: Directly relevant to leadership and safety in Indonesia.

Mine safety management training (8 March 2023 report, training and participant details)

Suitability for the current role

Role-relevant professional experience

Through 2026-10-31 · analyst inference · low materiality

As an analytical inference, the reported experience is relevant to general manager asia and president director indonesian business: Joined Macmahon in 2016 as Indonesia asset manager, appointed operations manager 2019; general manager Asia and president director Indonesian business; prior roles with Leighton Asia. The degree of individual contribution to past company outcomes is not established.

Attribution: Responsibility not applicable. Analytical assessment based on disclosed career; it is not a finding of personal delivery or misconduct.

Relevance: Matches documented experience to the role.

Annual Report FY2026 (physical PDF p. 45, executive biography)

Evidence gaps

  • Independent verification of education, credential status, full prior-employer tenures and individual outcomes is incomplete.

  • Focused public-source screening is not a comprehensive court, regulatory, criminal, sanctions or credential check; some historical employer records and local-language sources were not reviewed.