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Mon May 27 2019

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Kier finance director goes

7 May Kier Group is looking for a new finance director to replace Bev Dew.

Bev Dew
Bev Dew

Kier said that Bev Dew would leave the company by 30th September after over four years in the role, once the latest annual results are posted.

Mr Dew’s departure comes less than a month after the arrival of new chief executive Andrew Davies, who has already set about leading a review of group strategy.

Kier chairman Philip Cox said: "Bev has been our finance director for over four years and I would like to thank him for his contribution over this time. Bev remains firmly committed to the company and will be working with the board to deliver the 2019 results."

Bev Dew joined Kier in January 2015 from Balfour Beatty, where he had worked since June 2013. Before Balfour Beatty, he was Lendlease UK CFO. He has also worked for Redrow and Invensys Rail.

Kier’s finances have been under mounting scrutiny after a frosty response from investors for a rights issue last December. Nearly two thirds of the shares offered for sale found no takers and had to be picked up by the underwriters.  Chief executive Hayden Mursell was gone within weeks.

Before the rights issue was announced, Kier’s shares were trading at 752 pence, down from around 1000p earlier in the year. After the announcement, the share price tanked to 376 pence and has to recover any traction. It opened this week at 364 pence.

MPU

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