Construction giant Leighton Holdings is in further turmoil as two senior executives have been sacked and the board has recommended an improved purchase offer from parent company Hochtief.

In a stunning announcement to the Australian Stock Exchange, Leighton said the employment of chief executive officer Hamish Tyrwhitt and chief finance officer Peter Gregg had been terminated, whilst directors Paula Dwyer, Russell Higgins and Vickki McFadden would leave the board by no later than the conclusion of the annual…