Last checked at 15 Apr 2019 07:00
15 April 2019
Kier Group plc
Confirmation of Appointment of Chief Executive and Strategic Review
Further to its announcement of 19 March 2019, Kier Group plc ("Kier" or "the Group") confirms that Andrew Davies has today joined as Chief Executive and that Philip Cox has resumed the role of Non-Executive Chairman.
Kier also announces that 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.
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For further information, please contact: | |
Kier press office | +44 (0)1767 355096 |
Richard Mountain/Nick Hasell, FTI Consulting | +44 (0)20 3727 1340
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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.