New Kier CEO to lead strategic review
Kier has announced that new chief executive Andrew Davies will lead a strategic review of the group as it seeks to get back into the black.
Kier said Davies' strategic review will consider ways of further simplifying the company to create a more focused group, the allocation of capital resources across the group and additional steps to improve cash generation and reduce leverage.
The company said the work will build on the efforts of the board in recent months and the efforts of the Future Proofing Kier programme.
The conclusions of the review will be announced in July.
Kier Group purchased May Gurney in 2013, Mouchel in 2015 and McNicholas in 2017 and, while the acquisitions have brought significant growth in revenue, debts reached more than £400 million last year.
Kier completed a £250 million rights issue in December, which brought the net debt position at the end of 2018 down to £180.5 million.
- South West Water's H5O delivery alliance evolves South West Water has announced that it has made changes to its H5O alliance, while Stantec has been handed the contract... Read More >
- Clancy Docwra, Kier secure leakage detection contract with Anglian Clancy Docwra and Kier have been awarded a contract to carry out leakage detection services for Anglian Water as part of... Read More >
- Energy and utilities CEOs launch sector inclusion commitment CEOs from 32 of the country's leading energy and utilities employers have launched a long-term sector inclusion commitment... Read More >
- A glass half-full? Bringing water costs down for utility customers Mark Bullock, Balfour Beatty chief executive officer for rail and utilities, says the water sector must change its... Read More >
- INWED 2019: 'Each step was driven by choosing work I enjoy' To mark International Women in Engineering Day 2019 on 23 June, Fiona Barbour discusses her journey to becoming Mott... Read More >
- Interview: Kier Utilities' water MD Nigel Dyer Kier Utilities' Nigel Dyer tells Robin Hackett how the company is evolving to meet the changing demands on the water... Read More >
- Comment: New tech and partnerships will up the ante on leakage Closer partnerships, technology and connectivity will be the key to tackling leakage, with collaborative delivery... Read More >
- The search for safer streetworks practices Amey Utilities' HSEQ director, Gerry Mulholland, explains how the company’s 2020 Challenge and Know What’s Below... Read More >