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FAQ's
Does this acquisition mean Georgiou will become a public company? If so, will the employees be given a chance to buy into the company portfolio?
STRABAG is a listed company on the Vienna Stock Exchange, and it is our understanding that there is no intention to list either Georgiou or STRABAG on the Australian Stock Exchange (ASX).
As with any listed company, STRABAG stocks can be purchased, however if you are looking to invest, please seek independent financial advice and ensure you avoid any legal risks including insider trading.
Will the cadet program remain in place?
Yes.
Will Georgiou's Leadership Team change?
No. Our board will remain the same, however, there will be the addition of a representative from STRABAG. John Georgiou will continue as the Board Chair and Gary Georgiou will continue as CEO.
Are there plans for restructures and/or redundancies?
There are no plans for any redundancies. The strategy is to continue to grow the company.
Will there be any changes to our job roles, responsibilities or reporting structures?
No.
Will Georgiou's current Performance Appraisal and Salary Review process remain the same?
Yes.
Are there opportunities to transfer within STRABAG and/or relocate to Europe?
STRABAG encourages rotation within the organisation, and we expect that this will happen in both directions.
What opportunities might arise from the change in ownership for career advancement or growth?
See above. STRABAG is in fields where Georgiou currently does not operate (for example tunnelling) and has a strong technical department to support operations. This will enhance Georgiou’s ability to expand into markets and pursue new opportunities which were previously outside our core business. This is not immediate, and we will take time to understand each other, but Georgiou will grow over time into fields which are currently not in the business plan.