Appointment of Chief Executive
19 March 2019
KIER GROUP PLC
APPOINTMENT OF CHIEF EXECUTIVE
Kier Group plc ("Kier" or "the Group") today announces the appointment of Andrew Davies as Chief Executive with effect from 15 April 2019.
From 2014 to 2018, Mr. Davies was the Chief Executive Officer of Wates Group Limited ("Wates"), the construction, developments and property services group. In October 2017, Mr. Davies was announced as the Chief Executive of Carillion plc ("Carillion") but, before he took up the role, Carillion became insolvent in January 2018. Prior to leading Wates, Mr. Davies spent over 28 years with BAE Systems plc, undertaking a range of senior operational and corporate roles, including Group Strategy Director and, latterly, Managing Director of the Maritime Division. Mr. Davies is also a non-executive director of Chemring Group PLC.
Philip Cox, Executive Chairman of Kier, said: "Andrew has a strong track record of business leadership and his operational experience across a number of sectors, combined with his strategic approach, make him an excellent fit for Kier. On behalf of the Board, I would like to welcome Andrew to the Group and I look forward to working with him."
Andrew Davies said: "I am delighted to be joining Kier as Chief Executive. Kier has established market-leading positions through developing long-term client relationships and delivering excellent client service. I look forward to leading Kier in consolidating those positions and to bringing a renewed focus on simplifying the Group, improving cashflow generation and reducing net debt, whilst maintaining the Group's disciplined approach to risk management."
With effect from 15 April 2019, Philip Cox will resume his role as Non-Executive Chairman.
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For further information, please contact: |
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Louise Turner-Smith, Kier investor relations |
+44 (0)7976 790 012 |
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Kier press office |
+44 (0)1767 355 096 |
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Richard Mountain/Nick Hasell, FTI Consulting |
+44 (0)20 3727 1340 |
The Company confirms that there are no other disclosures to be made in connection with Mr. Davies' appointment under LR 9.6.13R of the Listing Rules.
This announcement contains inside information for the purposes of the Market Abuse Regulation (Regulation (EU) No. 596/2014). The person responsible for making this announcement on behalf of the Company is Hugh Raven, General Counsel and Company Secretary.
This announcement does not constitute an offer of securities by Kier Group plc (the "Company"). Nothing in this announcement is intended to be, or intended to be construed as, a profit forecast or a guide as to the performance, financial or otherwise, of the Company or any of its subsidiaries (together, the "Group") whether in the current or any future financial year. This announcement may include statements that are, or may be deemed to be, ''forward-looking statements''. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future and may be beyond the Company's or the Group's ability to control or predict. Forward-looking statements are not guarantees of future performance. You are advised to read the section headed ''Principal risks and uncertainties'' in the Company's Annual Report and Accounts for the year ended 30 June 2018 and the section of the Company's rights issue prospectus dated 30 November 2018 entitled "Risk factors" for a further discussion of the factors that could affect the Company's or the Group's future performance and the industry in which it operates. Other than in accordance with its legal or regulatory obligations, the Company does not accept any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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