No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Severfield announced the appointment of Paul McNerney as its next chief executive officer on Wednesday, following a comprehensive search process.
The London-listed firm said he would take up the role in the autumn, with a confirmed start date to be announced.
McNerney was joining from Laing O'Rourke, where he is currently director for clients and government, and had previously served as managing director of its UK construction business, Select Plant Hire, Explore Manufacturing and Crown House Technologies.
Over a 25-year career in construction and engineering, he had led large-scale projects across sectors including stadia, healthcare, life sciences, data centres, aviation and mixed-use developments.
"We are delighted to welcome Paul to Severfield," said chair Charlie Cornish.
"His blend of strategic acumen, operational delivery, particularly in construction, and international perspective, along with his proven ability to lead transformation, makes him an ideal choice to lead the group through its rebuilding process to the next phase of its growth and innovation."
Severfied said McNerney's track record included securing and delivering complex schemes such as the Oxford University Humanities campus and Everton's new stadium, both of which were also Severfield projects.
McNerney had also held senior roles in Australia, leading heavy civil and marine projects and opening new business in oil and gas markets.
"I am delighted to be joining Severfield at such a pivotal time in its journey," McNerney said.
"The company has a proud heritage, strong values, and a clear opportunity to lead with innovation and excellence in the structural steel sector."
At 1120 BST, shares in Severfield were up 0.64 at 31.3p.
Reporting by Josh White for Sharecast.com.