President of Austal USA resigns

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UPDATE (6:04 p.m.) — In a press release, Austal confirms the resignation of President Craig Perciavalle is connected to an investigation by the U.S. Justice Department and the Securities Exchange Commission into Austal’s LCS program and the costs associated with it.

You can read Austal’s full news release here.

MOBILE, Ala. (WKRG) — Austal USA confirms that its President Craig Perciavalle resigned Monday. CFO Rusty Murdaugh is taking over as the interim president.

Craig Savage, Director, Communications and External Affairs with Austal USA, could not go into details about the resignation, but said Austal’s parent company would be releasing new information at 6pm central time.

We will continue to update details of this developing story.

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