(Alliance News) - John Laing Group PLC said Thursday that Chief Executive Officer Olivier Brousse will be stepping down in order to take up a new role at French waste, water and energy management firm Veolia Envrionnement SA.
The infrastructure investment firm did not disclose the effective date of his departure, or what role he would take at Veolia, but did say that Brousse would remain as CEO to assist with allowing an orderly transition.
Brousse has been chief executive at John Laing for six years since 2014, and prior to that was part of water management firm Saur Group for six years from 2008 to 2014, leaving as executive chair.
He was once part of Veolia itself, as chief executive officer of transport subsidiary Veolia Transportation Inc.
John Laing said it is currently in the process of finding a successor to Brousse.
"On behalf of the board, I would like to express our sincere thanks to Olivier for his valuable contribution to the board and the company, particularly in delivering the successful IPO and his leadership in evolving the group's geographic footprint and the diversification of the portfolio," said Chair Will Samuel.
"Olivier will leave behind a strong management team and a company that is in good shape. We will continue to work closely with him in the months ahead to ensure a smooth transition to the new leadership," Samuel added.
Shares in John Laing - which is based in London - were down 2.1% at 379.60 pence on Thursday.
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
