The promotion represents the latest step forward for Van Dyk, who has been with the contractor since April last year when he was appointed chief financial officer.

Prior to that he held a number of senior operational roles at the WesTrac Group including CFO and chief operating officer for Western Australia.

A chartered accountant by background, Van Dyk holds more than 25 years sales, operational and financial experience primarily within the resource sector.

He holds a BComm (Honours) from the University of South Africa and is a member of the Institute of Chartered Accountants Australia.

“Since joining Macmahon, Sybrandt has been instrumental in reshaping the company into the leaner, more dynamic and resilient business that it is today,” Macmahon chairman Jim Walker said.

“Over the past 12 months Sybrandt has successfully implemented a major cost reduction program, spearheaded lengthy negotiations with our financiers, managed the disposal of excess equipment and successfully executed the sale of our Mongolian business – all of which has significantly enhanced Macmahon’s financial position.”

The appointment comes after an extensive executive search process, with former top dog Ross Carroll unexpectedly leaving his $A1.1 million per annum job in January.

The exact terms of van Dyk’s incentives are still being finalised.

“Whilst our decision has ultimately been to select an internal candidate, we felt it was important to test the market,” Walker said.

“In the end, we are very happy with where we have landed.”

With the new appointment effective immediately, Walker will relinquish his executive duties and resume his previous role as non-executive chairman.