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Skanska UK boss quits after PPP writedown

Skanska UK chief executive David Fison is to leave the company after seven years in the top job.

News of Fison's departure comes after Skanska UK conducted a review of large PPP projects in the UK which "resulted in further project writedowns of £19.5M".

UK revenue during the period (January to June 2008) rose year-on-year from £696M to £758M. But the company recorded an operating loss of £41M, compared to £18M in profits for the first six months of 2007.

Fison is to be replaced by Mats Williamson who assumes his position immediately.

Williamson takes over in the UK to "to lead the task of changing procedures and processes and again making the business unit a profitable part of Skanska".

Williamson joined Skanska in 1981. He has held several high profile positions including Project Executive of the Öresund bridge between Denmark and Sweden, President of Skanska international Projects and, since 2002, he has been the President of Skanska Sweden.

UK revenue during the period rose year-on-year from £696M to £758M. But the company recorded an operating loss of £41M, compared to £18M in profits for the first six months of 2007.

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