Kier Group PLC Appointment of Chief Executive (2726T)
March 19 2019 - 2:02AM
UK Regulatory
TIDMKIE
RNS Number : 2726T
Kier Group PLC
19 March 2019
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.
- ENDS -
For further information, please contact:
Louise Turner-Smith, Kier investor relations +44 (0)7976 790 012
Kier press office +44 (0)1767 355 096
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.
END
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