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Top 100 : 2012
Kevin Gallagher, 46 Managing Director and CEO, Clough, Perth Mechanical engineer, University of Glasgow, Scotland KEVIN GALLAGHER'S first year as CEO and managing director of engineering firm Clough has been a challenging but successful one. While 2011 profits were affected by previously announced losses, the company reported a February 2012 half-yearly revenue of $540 million -- a 9% increase on the previous quarter. Galla- gher also said a number of lucrative contracts had already been obtained for the remainder of 2012 and 2013. "More than $700 million worth of new contract awards were announced early in 2012, notably the largely reimbursable Hook- up and Commissioning contract and Jetty contract for Chevron s Wheatstone project, and the Marine Offloading Facility notice of award for INPEX s Ichthys project," he said. "As a result Clough s order book has increased to a record $2.4 billion, with approximately $850 million in revenue already secured for FY13." In April, the company announced it had commenced work on a $30 million project associated with the offshore facilities for Chevron s Wheatstone LNG project. Douglas Rathbone, 66 CEO and Managing Director, Nufarm, Melbourne Chemical engineer, RMIT University AFTER A trying couple of years, Nufarm chief executive Douglas Rathbone has been able to breathe a sigh of relief in 2012. The agricultural chemical company enjoyed a change of fortunes this year, with its after-tax net profit for the year ending 31 January reaching $18 million -- a near 400% increase on net profit from the corresponding period of the previous year. Rathbone attributed the success to to a disciplined approach to executing the company s strategic growth plans, and improved performance of Nufarm s opera- tions in Australia and Brazil, where favourable seasonal conditions have driven demand for crop protection products. While the company reported a 5% drop in share price in March Nufarm investors received a 3¢ dividend in April -- the first since 2009. Rathbone has indicated that Nufarm s operating profit in the year to 31 July will exceed last year s $98.2 million. Andrew Liveris, 57 Chairman and CEO, Dow Chemical Company, Michigan, US Chemical engineer, University of Queensland WITH ANDREW Liveris at the helm, Dow posted record rev- enues of nearly US$60 billion in 2011, an increase on its 2010 performance of US$53.7 billion. Delivering double-digit gains in revenue and earnings per share, it earned a 67% increase in its divident in the few few months of the year. In the first quarter of 2011 alone, Liveris led Dow in a series of debt reduction activi- ties which retired US$2.5 billion of company debt. In the third quarter the company opened manufacturing plants in Germany and Thailand, and in the final quarter it announced its plan to invest US$25 million a year for 10 years to strengthen traditional scientific studies in US universities. Liveris, who has worked with Dow for 36 years, was named the 2011 Platts Global Energy Awards CEO of the Year. 53 ENGINEERS AUSTRALIA | JUNE 2012 TOP 100 COVER STORY Industry