Companies
UK’s Kier Group Names New CEO as Andrew Davies Exits After Six Years
Davies said it has been an “absolute privilege” to lead the publicly traded company’s transformation into a “strong and sustainable business that benefits all stakeholders.”
Logo courtesy of Kier Group plc
London-based construction and services firm Kier Group announced in a July 22 financial update that CEO Andrew Davies will step down Oct. 31 after six years at its helm, naming as his successor Executive Director Stuart Togwell, who is also the company’s director of construction. Togwell assumes the role on Nov. 1.
"I look forward to working with Kier’s exceptional teams to drive success and growth and deliver for our customers, our communities and this industry,” he said.
Togwell joined Kier's executive committee as group commercial director in 2019 and became managing director of its construction division in 2022.
Davies, who inherited a reported $332 million loss at the start of his tenure in 2019, was heralded for reducing the company’s month-end net debt, which ballooned to as much as $740 million. Davies has since hacked that debt down to around $66 million, according to Kier’s trade update. The company reported nearly $4.93 billion in 2024 revenue.
Kier Group "has increased its resilience, strengthened its financial position and currently has a record order book of over [$14 billion]” said Kier Chairman Matthew Lester. Davies also presided over the company’s return to the Financial Times Stock Exchange list of the 250 biggest UK companies, with the firm expected to return to profitability by 2026.
Reuters reported that Kier shares have fallen 50% under Davies’ leadership, dropping to 5.6% after his announcement. His efforts to restore its financial strength include selling off its housebuilding unit, shedding around 1,200 employees and refocusing its core business on infrastructure, utilities and highways, Global Construction Review reported.
According to Kier, the company‘s head count is about 10,000 employees as of last year, with more than 400 active projects across the UK.
Kier Group did not respond to ENR’s request for comment on how the company’s construction operations will be reconfigured as Togwell moves into the CEO role.
Looking for quick answers on construction and engineering topics?
Try Ask ENR, our new smart AI search tool.
Ask ENR →
