Costain chief executive Andrew Wyllie is stepping down after 14 years at the helm of the major contractor.
Wyllie is stepping down to pursue non-executive roles elsewhere. Costain said Alex Vaughan would succeed Wyllie on 7 May.
Vaughan is currently managing director of the firm’s natural resources division.
“The appointment of Alex is in accordance with the board’s succession plan which included an extensive internal and external search process,” said Costain in a statement.
Wyllie is currently ICE President and also non-executive director of Yorkshire Water.
Wyllie leaves with the firm in strong position. Last month it said its orders at the end of 2018 were at a record level of £4.2bn, up from £3.9bn at the same point last year. The company finished 2018 with a net cash position of over £110M.
Finishing the year with an order book at a record level reflects the firm’s market position with its target clients who are consolidating their supply chains to deliver multi-billion-pound investment programmes, Costain said.
Vaughan said we was “delighted” and “excited” for the firm’s future success. “Costain is a great company, with a very clear focus and an outstanding team delivering on our purpose – improving people’s lives,” he said.
Vaughan is a technology evangelist. He told New Civil Engineer in May 2017 that the industry must do more to promote alternative solutions.
“As an industry, it is our job to help our clients develop appropriate infrastructure solutions to meet these changing needs,” he said. “Transport infrastructure must be enabled for high speed automation and intelligent networks; energy supply will move from a simple centralised model to complex decentralised networks; we should be developing an airborne environment for logistics and communications.
“We should all be willing to invest in research and development and work more closely with our clients to understand their needs and to explore the technologies that will enable us to develop the infrastructure that will best meet the UK’s national needs in the long term.”
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