WYG, the global project management and technical consultancy, has today announced the appointment of Douglas McCormick as chief executive.
His appointment will take effect from June 12. On this date the current CEO, Paul Hamer, will step down from the board to take up the post of chief executive at Sir Robert McAlpine, with effect from July 31.
In a statement, Leeds-based WYG said: “Douglas has over 30 years’ experience in the construction industry, and was until recently chief executive of Sweett Group plc, managing approximately £90m of revenue and over 1,500 staff across 18 countries.
“During his 18 months in the role Douglas established a period of improved stability, creating significant value for shareholders. Previously, Douglas was group managing director, rail, Atkins (UK), managing more than £200 million of revenues and over 1,700 staff across the UK, India and China.”
Mr Hamer joined the group in July 2008 and was appointed chief executive in March 2009 to oversee the transformation of WYG.
He led the business through two major financial restructurings in 2009/10 and 2011, returning the group to profitability, and a period of significant growth, WYG said.
The statement added: “Paul has helped to create a client focused organisation with a new operational structure and strong business leadership team, designed to deliver the five-year growth strategy recently endorsed by the board.”
Mike McTighe of WYG said: “While we are sad to announce the departure of Paul, I am delighted to be able to announce Douglas’s appointment as chief executive officer of WYG.
“My colleagues and I believe he will be a fitting successor to Paul and is the right leader to take the company forward to the next stage of its development.” “I would like to pay tribute to the work that Paul has done at WYG and to thank him for his fantastic service over the past nine years. His leadership has been key to the successful turnaround of the business and its return to growth and profitability; we wish him well in his new role at Sir Robert McAlpine.”
Mr McCormick said: “WYG is a leader in many of its markets with strong and diverse expertise which means it has great potential for sustained profitable growth. I am delighted to be taking up this new role and to be working with the board, the senior leadership and the staff team to make the most of the wealth of opportunities for WYG in a changing world.”
WYG also announced its audited final results for the year ended March 31 2017. Over this period, revenue increased by 14 per cent to £151.8m.