Austal USA President Perciavalle Resigns

Craig Perciavalle resigned as president of Austal USA on Monday amid investigations into the shipbuilder's littoral combat ship (LCS) program for the U.S. Navy.

Chief financial officer Rusty Murdaugh has been named interim president of the Mobile, Ala. shipbuilder, a subsidiary of Australia-based Austal.

According to Austal, the separate ongoing investigations by the U.S. Department of Justice, the Securities Exchange Commission, and the Australian Securities and Investments Commission are focused on "historical matters" before July 2016. The shipbuilding group said it has been cooperating with regulatory authorities in relation to the probes.

Perciavalle was named president of Austal USA in 2012 and oversaw the shipbuilder's growth to more than 4,000 employees.

Austal USA is currently building the Independence class LCS, as well as the Spearhead-class expeditionary fast transport (EPF) vessels. The shipbuilder said its relationship wiih the U.S. Department of Defense remains strong.