Hunt for new chairman started by Kier

Kier Group chairman Phillip Cox has triggered a search for his replacement, telling the board he wants to stand down.

After two years in the job Phillip Cox has told his fellow directors that he will retire as chairman and step down from the Kier board as soon as a successor has been appointed.

Mr Cox, a former chief executive of International Power, joined the Kier board on 1st July 2017 and became chairman on 31st August 2017. He has overseen the recent appointment of a new management team and said that it would now be appropriate for the company to appoint a new chairman to work with the board to deliver the new strategy.

In June Kier put its house-building business, Kier Living up for sale and announced that it was also getting out of property development and facilities management.

Kier has also today posted its annual result for the year 30th June, 2019, revealing a pre-tax loss of £245m.