Haydn Mursell goes with immediate effect, firm says
Kier鈥檚 chief executive Haydn Mursell is leaving the contractor with immediate effect.
In a shock announcement to the London Stock Exchange, Kier confirmed it had asked chairman Philip Cox to act as executive chairman, working with the finance director Bev Dew and chief operating officer Claudio Veritiero, to oversee the group鈥檚 operations while the search to replace Mursell begins.
The firm last month said it had been handed 拢250m by investors in a rights issue which the firm said would be used to sort out its balance sheet.
Cox said: 鈥淭he board believes that, following the completion of the recent rights issue, now is the right time for a new leader to take Kier forward to the next stage of its development.
鈥淭he board would like to thank Haydn for his contribution during eight years on the board, firstly as finance director and then as chief executive. On behalf of the board, I would like to wish him every success in the future.鈥�
The company, which fell out of the FTSE250 index last month, said the search for a successor to Mursell, who will come from outside the company, will start immediately.
Cenkos analyst Kevin Cammack said Mursell had 鈥渇allen on his sword鈥�, saying shareholders pus