When Austal Ltd. of Henderson, Western Australia, started looking last year for a CEO to lead its U.S.-based operations, the job description must have been daunting. They wanted a leader to take the helm of their newly built shipyard in Mobile, Ala., and turn it into a major contractor for both military and commercial vessels in the United States. Austal had recently entered the U.S. market for the first time, intent on competing with higher-profile rivals such as Incat/Bollinger, Derecktor Shipyards and Kvaerner. The company settled on Alan Lerchbacker, 50, an energetic former Navy Aquanaut with a business background, who took the position in February 2002. Lerchbacker had never heard of Austal until a headhunter contacted him.