New man takes the reins at Renew
Paul Scott has now started work as the new chief executive of Renew Holdings, the engineering services group.
Paul Scott has taken over from Brian May, who retired as chief executive on 30th September 2016.
Mr Scott, aged 51, has been with the company for 15 years and a main board director since July 2014.
In a trading update today, the Renew board said that it expects the group's results for the year to 30th September 2016 to be in line with market expectations, with improved revenue and operating profit together with an increase in operating margin. The board also expects to report that Renew has moved to a net cash position when the annual results are posted next month.
There was also a tribute to the retiring chairman who is credited with reinventing the company. “The board would like to thank Brian for his outstanding leadership of Renew over the last 11 years, during which he transformed the group from a loss making building contractor into a leading business in engineering services and delivered an increase in market capitalisation from £17m to £229m without recourse to equity financing.”
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This article was published on 3 Oct 2016 (last updated on 3 Oct 2016).