Engineering and property services company United Group says it has extended the contract of its chief executive officer and managing director, Richard Leupens, until 2014.
UGL chairman, Trevor Rowe, said the contract extension "will provide ongoing stability" for the company.
"He continues to perform impressively and clearly has the enthusiasm and commitment to keep delivering for UGL and its shareholders."
Mr Rowe said the Board also had eye to succession planning.
Richard's extended contract includes key performance indicators and incentives in relation to the development of his senior management team and the appointment of a suitable successor," he said.
Mr Leupen's pay includes $2 million per year fixed for three years and various incentives.
AAP
