Amec Foster Wheeler has announced that chief executive Samir Brikho has stepped down.
Chief financial officer Ian McHoul will take the role of interim chief executive at the engineering consultancy with immediate effect.
A recruitment process will take place for a new chief executive. McHoul said he would not apply for the permanent job.
Amec Foster Wheeler said in November that second-half margins were expected to be below those seen in the first half of the calendar year. The group set a cost savings target of £120M by 2017.
Brikho (pictured) said: “It has been a privilege to lead Amec Foster Wheeler at a time of huge change in the global energy and commodities market. My aim has always been to help to create a leading integrated global service company capable of meeting our customer demands. I am so appreciative of the unstinting work and support of the 40,000 colleagues who all contribute to Amec Foster Wheeler’s success.”
Chairman John Connolly said: “Samir has been the chief executive for over nine years and has made a significant contribution to our development over this period, including the re-shaping and re-focusing of the business at the start of his tenure to build up the global company Amec Foster Wheeler is today. On behalf of the board and everyone at Amec Foster Wheeler I thank Samir for his commitment and contribution. We wish him the best for the future.”