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Gloucestershire Business News

Construction giant's new top man hits ground running by committing to leading 'strategic review'

The new boss of the Kier Group will lead a "strategic review" to consider ways of making the business a more focused group.

Andrew Davies, the former head of construction and property group Wates, started in his new role this week.

He was appointed to the role in March to replace Haydn Mursell, who stood down in January after shareholders refused to take up a new rights issue.

Kier, who oversaw the rebuild of Shire Hall and the Gloucester Transport Hub and run large-scale construction projects all over the country, saw their share price fall by as much as 60 per cent in 2018.

They have also been chosen as the main contractor for the £30millio project to build a new secondary school in Leckhampton.

In a statement released to the London Stock Exchange confirming Davies' appointment, the company confirmed that the new boss will lead a root and branch review.

The statement said: "Andrew Davies will lead a strategic review of the Group which will consider ways of further simplifying Kier to create a more focused group, the allocation of capital resources across the Group and additional steps to improve cash generation and reduce leverage.

"This review will build on work that has been undertaken by the Board in recent months and is in addition to the previously announced Future Proofing Kier programme. The conclusions of the review will be announced in July."

Kier have a workforce of more than 20,000 across the country, including around 100 staff a Kier Construction base in Quedgeley.

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