Restructuring of Business Reporting Lines and Board Changes
Waterman Group plc, the engineering and environmental consultancy, announces the restructuring of the way it manages its internal business reporting lines.
The changes are fundamental to the Group’s recently announced strategy to target a tripling of adjusted profit before tax over the next three years. The Board believes that this will simplify reporting and responsibilities within the business to give enhanced leadership and management to the two distinct halves of the Group. As part of this process, Simon Harden and John Waiting have agreed to step down as directors of the plc Board with immediate effect and have decided to leave Waterman on 31st March 2014 to pursue other interests.
In conjunction with the above changes to the plc Board, the former UK Management Board and the International Management Board will be replaced by a Property Management Board and an Infrastructure, Environment and Energy Management Board.
The Property Board will be responsible for managing the Group’s Structures and Building Services businesses in the UK, Australia, Ireland, Russia and Poland. The inaugural Chief Operating Officer of this Board will be Craig Beresford, who is currently Managing Director of the Structures business in the UK.
The Infrastructure, Environment and Energy Board will be responsible for managing the Group’s Energy, Environment, Civil and Transportation businesses. The inaugural Chief Operating Officer of this Board will be Neil Humphrey, who is currently Managing Director of the Energy, Environment and Design business.
The final results for the current financial year ending June 2014 and for future financial periods will be reported in line with the new management structure.
Roger Fidgen, Chairman of Waterman Group, said;
“In restructuring the Group’s business reporting lines we have evolved the internal structure to more accurately reflect the recent changes to our business. We are confident that we remain on track with our strategy to triple the adjusted profit before tax over the next three years.
“The Board and I would like to thank both Simon Harden and John Waiting for their significant contribution to the Board over many years.”
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