Kier chief executive Andrew Davies will retire and step down from the board on 31 October, after six years leading the company.
He will be succeeded by Stuart Togwell, Kier’s current executive director and group managing director of construction.
Before joining Kier, Davies spent four years as CEO of Wates between 2014 and 2018 and almost three decades at BAE Systems, where his last role was managing director of the maritime business.
Kier’s chairman, Matthew Lester, said: “I would like to thank Andrew for his exceptional leadership over the last six years, which has transformed Kier. We proudly remain one of the UK’s leading infrastructure services, construction and property groups. Under Andrew’s leadership, the group has increased its resilience, strengthened its financial position and currently has a record order book of over £11bn.
“Furthermore, during his tenure, Kier returned to the FTSE250 and recommenced dividend payments and has built a culture based on safety, delivery, discipline and performance excellence.
Clear strategy and vision
“Andrew and his management team set out a clear strategy, purpose and vision for the group, initially to deliver its medium-term value creation plan and latterly to deliver long-term sustainable growth – and with invigorated and motivated colleagues, Kier is realising this ambition.”
Davies said: “It has been an absolute privilege to lead Kier and to transform the group into a strong and sustainable business that benefits all stakeholders. I want to thank all the colleagues for their support, hard work and commitment over the last six years in building the foundations to ensure Kier remains a leading infrastructure services, construction and property company that is vital to the UK and is better placed than ever to succeed.”
Togwell said: “I am honoured to be appointed as the next chief executive and look forward to working with Kier’s exceptional teams to drive success and growth and deliver for our customers, our communities and this industry that I am so passionate about.”
A trading update from Kier published today (22 July) confirmed revenue and profit are in line with expectations when the full-year results are announced in September.
