After two years in the job, Philip Cox has told his fellow directors that he will retire as chairman and step down from the Kier board as soon as a successor has been appointed.
Mr Cox, a former chief executive of International Power, joined the Kier board on 1st July 2017 and became chairman on 31st August 2017. He has overseen the recent appointment of a new management team and said that it would now be appropriate for the company to appoint a new chairman to work with the board to deliver the new strategy.
In June Kier put its house-building business, Kier Living, up for sale and announced that it was also getting out of property development and facilities management. [See our previous report here.]
Kier has also today posted its annual result for the year to 30th June 2019, revealing a pre-tax loss of £245m. [See separate report here.]