McArthur: difference of opinion
Neil McArthur, global chief executive of construction consultancy Arcadis, has left the company over “a difference of opinion” about the firm’s future.
McArthur’s departure follows a sharp fall in earnings for the company which revealed it had suffered a challenging third quarter hit by weakness in emerging markets and the sharp fall in sterling. This saw operating income fall 34% to €43m (£38.5m), missing market forecasts.
In the UK, which accounts for 17% of total revenue, Arcadis suffered a fall in turnover. The decrease in revenue was mainly down to a 9% currency effect.
McArthur, who was one year into a second four-year term, will be temporarily replaced by chief financial officer Renier Vree, the company said in a trading update.
Niek Hoek, chairman of the Arcadis supervisory board, said: “We will begin a search internally and externally for a new CEO. We are pleased that Renier Vree has accepted the interim CEO role. With Renier’s knowledge and experience of Arcadis and its stakeholders, we are confident that he is best positioned to lead the company in the interim.”
Commenting on his decision to step down, McArthur said: “I am proud of what we have achieved as a company over the past five years.
“Together, we have expanded our core business organically and through acquisitions, going from a €2bn 15,000 people organisation in 2012, to a €3.4bn global multinational with 27,000 people under a single global brand, with a collaborative structure and culture.”
