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Kier Group launches strategic review as Andrew Davies takes helm

It will consider a restructuring, look at capital allocation and ways to improve cash generation

Kier construction workers
Findings are due in the summer

Kier Group plc (LON:KIE) has confirmed the appointment of Andrew Davies as its new chief executive to lead the company alongside Philip Cox who has now resumed his role as non-executive chairman.

Davies has immediately launched a strategic review of the engineering group.

READ: Kier posts drop in first-half profit

The process aims to consider ways of further simplifying Kier in order to create a more focused group.

It will also look at the group’s allocation of capital resources, as well as steps to improve cash generation and reduce leverage.

Kier expects to announce the findings of its review in July.

Quick facts: Kier Group PLC

Price: 65.84 GBX

LSE:KIE
Market: LSE
Market Cap: £106.74 m
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