Kier Group PLC Appointment of Chief Executive & Strategic Review (1245W)
April 15 2019 - 2:00AM
UK Regulatory
TIDMKIE
RNS Number : 1245W
Kier Group PLC
15 April 2019
15 April 2019
Kier Group plc
Confirmation of Appointment of Chief Executive and Strategic
Review
Further to its announcement of 19 March 2019, Kier Group plc
("Kier" or "the Group") confirms that Andrew Davies has today
joined as Chief Executive and that Philip Cox has resumed the role
of Non-Executive Chairman.
Kier also announces that Andrew Davies will lead a strategic
review of the Group which will consider ways of further simplifying
Kier to create a more focused group, the allocation of capital
resources across the Group and additional steps to improve cash
generation and reduce leverage. This review will build on work that
has been undertaken by the Board in recent months and is in
addition to the previously announced Future Proofing Kier
programme. The conclusions of the review will be announced in
July.
- ENDS -
For further information, please contact:
Kier press office +44 (0)1767 355096
Richard Mountain/Nick Hasell, FTI Consulting +44 (0)20 3727 1340
This announcement does not constitute an offer of securities by
Kier Group plc (the "Company"). Nothing in this announcement is
intended to be, or intended to be construed as, a profit forecast
or a guide as to the performance, financial or otherwise, of the
Company or any of its subsidiaries (together, the "Group") whether
in the current or any future financial year. This announcement may
include statements that are, or may be deemed to be,
"forward-looking statements". By their nature, forward-looking
statements involve risks and uncertainties because they relate to
events and depend on circumstances that may or may not occur in the
future and may be beyond the Company's or the Group's ability to
control or predict. Forward-looking statements are not guarantees
of future performance. You are advised to read the section headed
"Principal risks and uncertainties" in the Company's Annual Report
and Accounts for the year ended 30 June 2018 and the section of the
Company's rights issue prospectus dated 30 November 2018 entitled
"Risk factors" for a further discussion of the factors that could
affect the Company's or the Group's future performance and the
industry in which it operates. Other than in accordance with its
legal or regulatory obligations, the Company does not accept any
obligation to update or revise publicly any forward-looking
statement, whether as a result of new information, future events or
otherwise.
This information is provided by RNS, the news service of the
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contact rns@lseg.com or visit www.rns.com.
END
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