Kier chief executive, Andrew Davies, is set to retire at the end of October, at which point Stuart Togwell, group managing director of construction, will take over as group CEO.
Togwell said: “I am honoured to be appointed as the next chief executive and look forward to working with Kier’s exceptional teams to drive success and growth and deliver for our customers, our communities and this industry that I am so passionate about.”
Davies will leave Kier after six years at the helm, during which time the group returned to the FTSE 250 Index and amassed a record order book worth more than £11 billion.
He will officially step down from the Executive Board on 31 October, with Togwell taking charge the following morning.
Davies said: “It has been an absolute privilege to lead Kier and to transform the group into a strong and sustainable business that benefits all stakeholders. I want to thank all the colleagues for their support, hard work and commitment over the last six years in building the foundations to ensure Kier remains a leading infrastructure services, construction and property company that is vital to the UK and is better placed than ever to succeed.”
The announcement of a change in leadership coincides with Kier Group releasing a trading update for the year ended 30 June 2025, in which it is forecasting a 22 per cent increase in its year-end cash position, from £167 million on 30 June 2024 to £204 million this year.
Further, average month-end net debt has reduced to -£49 million, compared to -£116 million in 2024, with 88 per cent of group revenue secured for FY2026.
Bosses also said a £20 million share buyback programme launched in January had progressed to £7 million to date and is expected to complete in the first half of the next financial year.
Operationally, increased AMP8 activity in Kier’s Water business offset more modest growth in Transportation and ‘steadying volumes’ in Construction, while its Property division completed three major developments.
“Growth opportunities in the group’s core markets continue to be underpinned by the government’s renewed investment commitments, to improving UK infrastructure and regulated UK assets,” a group statement reads.
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