Toll Holdings has announced that its CFO, Brian Kruger, will take the Managing Director (MD) position as of 1 January 2012, replacing retiring MD Paul Little.


Mr Kruger, who has extensive experience in the mining and steel industries, joined Toll in 2009 after working in senior positions in Bluescope Steel and BHP Billiton.


The Toll board has lauded Mr Kruger’s extensive experience in executive and operational areas.


“The Board congratulates Brian on his appointment. He has an outstanding business pedigree and will be a highly capable successor to Paul. He has demonstrated his capability in operational and financial roles in Australia as well as internationally. Brian is extremely well regarded at all levels of Toll for his management style which combines good process with strong values.” Chairman Ray Horsburg said.


Mr Little joined the board in congratulating Mr Kruger’s appointment.


“I am thrilled that the Board has taken this decision. Brian is a superb executive, a particularly effective leader of people and the right person to head up the company at this time,” Mr Little said.


A search for a new CFO will begin shortly and in the meantime Grant Devonport, head of finance for the Global Resources Division, will act in the role from 1 September.