Turnaround whiz picked to chair Australian shipbuilder

OCTOBER 2, 2012 — Australian Minister for Finance and Deregulation, Senator Penny Wong, has announced the appointment of Mr. Bruce Carter as Chair of Australia’s largest defense submarine and shipbuilding company, the government-owned ASC Pty Ltd.

Described by one Australian news source as “the government’s Mr. Fix It,” he brings an interesting skill set to the job. A former partner in Ernst and Young he is now a partner in the Adelaide office of  Ferrier Hodgson, which describes itself as “Asia Pacific’s most widely recognized and highly respected provider of turnaround, reconstruction and forensics service.” He is a past Chairman of the Insolvency Practitioners Association of Australia.

“Mr. Carter’s extensive experience in the private sector will greatly benefit the Board, bringing a commercial focus to the organization as it continues to reform and improve,” Minister Wong said.

ASC recently entered into a contract with Australia’s Defence Materiel Organization for the maintenance of the Collins Class submarines and is the principal shipbuilder in the Air Warfare Destroyer project and, says Minister Wong. seeks to be the leading designer, builder and maintainer of naval ships and submarines in Australia.

Mr. Carter has served as a Director on the ASC Board since January 2010.