Last checked at 1 Aug 2019 07:00
1 August 2019
Kier Group plc
Appointment of Chief Financial Officer
Kier Group plc ("Kier" or the "Company") announces that Simon Kesterton will be appointed to its board of directors (the "Board") as Chief Financial Officer Designate with effect from 26 August 2019 and will assume the role of Chief Financial Officer from 19 September 2019.
Bev Dew, Kier's Finance Director, will stand down from the Board immediately following the announcement of the Company's results for the 2019 financial year and is expected to remain on garden leave for the remainder of his notice period, which concludes in May 2020.
From 2013 to 31 July 2019, Mr. Kesterton was Group Finance Director at RPC Group plc. Prior to this, he was Chief Financial Officer, Europe and also Chief Strategic Officer at IAC Group, where he worked from 2006 to 2012. During the early part of his career, Mr. Kesterton undertook a number of finance roles at Collins & Aikman and British Federal.
Andrew Davies, Chief Executive of Kier, said: "Simon has a broad range of finance experience across a number of sectors. In particular, he has played a key role in implementing programmes which focus on the disposal of non-core assets, the reduction of overheads and cost control. I would like to welcome Simon to Kier and I look forward to working with him."
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For further information, please contact: |
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Cynthia Alers, Investor Relations Kier Press Office | +44 (0)20 3208 6059 +44 (0)1767 355 096 |
Richard Mountain/Nick Hasell, FTI Consulting | +44 (0)20 3727 1340
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The Company confirms that there are no other disclosures to be made in connection with Mr. Kesterton's appointment under LR 9.6.13R of the Listing Rules.
This announcement contains inside information for the purposes of Market Abuse Regulation (Regulation (EU) No. 596/2014). The person responsible for making this announcement on behalf of the Company is Hugh Raven, General Counsel and Company Secretary.
This announcement does not constitute an offer of securities by Kier Group plc (the "Company" and, together with its subsidiaries, the "Group"). 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.