The Motley Fool

BSA Limited snags Transfield Limited exec for CEO

Transfield Services Limited‘s (ASX: TSE) chief executive of Australia & New Zealand Infrastructure, Nicholas Yates, is headed to BSA Limited (ASX: BSA). The two companies released simultaneous statements Tuesday, with Transfield noting that this move is a “further career progress” for the executive.

Mr. Yates has been employed with Transfield since the company acquired consulting firm APP seven years ago, and has held his chief executive post since January 2011. Transfield managing director and CEO Graeme Hunt thanked Mr. Yates for his work, wishing him all the best in his new role.

For BSA, Mr. Yates’ new appointment is the result of a “comprehensive search process,” following the resignation of its previous CEO and managing director on November 4. The company expects its newest appointee to assume his position in early March 2014.

Foolish takeaway

Corporate executive switchups are a fairly normal occurrence, and this latest move is nothing to be alarmed about. For Transfield, Mr. Yates’ departure will simply have to be factored into the company’s larger review of its operating model, which it will publicly reveal in more detail during its half-year results on February 27.

For BSA Limited, the appointment finally fills in a loose cog in its corporate team. This should allow the company to focus on more important fundamentals in the months to come.

For investors everywhere, finding stable stocks with great leaders is the best way to guarantee long-term profit. The Australian Financial Review says "good quality Australian shares that have a long history of paying dividends are a real alternative to a term deposit.” Get “3 Stocks for the Great Dividend Boom” in our special FREE report. Click here now to find out the names, stock symbols, and full research for our three favourite income ideas, all completely free!

Motley Fool contributor Justin Loiseau has no position in any stocks mentioned in this article. You can follow him on Twitter @TMFJLo.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.