Grewar joins Viento as MD
Former MACA managing director Doug Grewar has been appointed the new managing director and chief executive of Viento.
Viento chairman Ray Munro said the appointment was part of a planned business and management restructure of the company, which has been struggling to keep its head above water in recent times.
He said the board was confident Mr Grewar's appointment would provide new leadership, perspective and energy to the company to drive change and deliver ongoing growth.
Mr Grewar will receive a salary of $450,000 with no short or long term incentives.
Mr Grewar left MACA in May last year to make way for Chris Tuckwell, who returned to the contractor after two years with Ausdrill, as that company's Africa-based chief operating officer.
Shares in the company soared last week after it announced it had won a $40 million contract at BC Iron's Nullagine joint venture project in the Pilbara.
Earlier this month, the company was forced to raise $7 million in a heavily discounted capital raising after it breached its banking covenants.
Viento said at the time the funds would be used for working capital, strengthening its balance sheet and reducing debt.
Viento shares were off 0.1 cent, or 1.85 per cent, to 5.3 cents at 9.20am.
