WATERMAN MANAGING director Bob Campbell will retire in June after 37 years with the company. His successor is 48 year old Nick Taylor, current chairman of the firm's structures division.
Campbell, who will be 65 in September, grew the fi rm on the back of work in London's Docklands in the 1980s.
Under his leadership, Waterman was also one of the first consultants to float on the London Stock Exchange when it was listed in 1988. He and Taylor will run the company jointly for the next six months after which Campbell will retain directorships at the firm's Dublin and Belgian businesses.
Waterman is a top 20 consultancy according to NCE's annual Consultants File. In 2006 it turned over £83.7M, up from £72.3M the previous year.
Profit before tax was £4.2M, up from £3.8M.
Current share price is 173p.
'We are broadly happy with the valuation of the business in relation to the company's profitability, ' Campbell said.
'Nick's challenge is to improve profitability and hence the share price.' Around 30% of Waterman shares are owned by directors, ex-directors and staff. Campbell and Taylor were in agreement that they would fight off anyone looking to buy the business.
'We don't want to be bought.
No way. We have our own culture which would be destroyed, ' Campbell said.
Taylor joined Waterman 25 years ago from Taylor Woodrow.
'I think it is important that I have grown up with the business, ' he said. 'I know what we are about and I have the important long term relationships with our clients.
'I think it's good for a company to be able to show its staff that by working in it you can progress right to the top.'