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Wates chief executive to join Carillion
The chief executive of Wates is to leave the firm to join construction giant Carillion.
Andrew Davies will leave the Surrey-based construction, development and property services company on 10 November – less than four years after joining.
In April 2018, he will become chief executive of Wolverhampton-based Carillion, which posted a pre-tax loss of £1.2bn in the first half of this year. Wates grew revenue and operating profit in 2016.
David Allen, chief financial officer at Wates, will take on the role of acting chief executive of the firm while it looks for a permanent successor to Mr Davies.
“It has been a privilege and a pleasure to work for the Wates Group,” said Mr Davies. “I am proud of what we as a company have accomplished over these past four years.
“I have the greatest respect for the organisation, its heritage, and its people, who have continually impressed me with their commitment, integrity, professionalism and performance. In particular I would like to thank James Wates and the Wates family for their guidance and support during my tenure as chief executive.
“I look forward to working with the board and the management team to ensure there is a smooth and orderly transition.”
James Wates, chair of Wates, said: “When Andrew leaves, he will do so with the company in a strong position and well on its way to achieving its strategic goal of becoming a sustainably profitable £2bn turnover company.
“On behalf of the shareholders and the board, I wish him the best for the future. The board is grateful to David Allen for agreeing to take over as acting chief executive until a permanent successor is appointed.”
