CIMIC's Devine chasing legal claims, appoints new chief

The CIMIC-controlled listed residential developer Devine has appointed a new chief executive and is preparing for "the initiation of a full legal process" in its construction business over funds owed to the company.

The stock, which has lost almost 50 per cent of its value since CIMIC announced a takeover of it, will see CIMIC's John Campbell start in the chief executive role from July on a fixed remuneration of $405,000.