WYG announces new CEO and chairman

New WYG chief executive Douglas McCormick (left) replaces Paul Hamer (right) who is moving to Sir Robert McAlpine.

Consultancy group WYG has announced that former Sweett Group chief executive Douglas McCormick has been appointed to succeed Paul Hamer as WYG’s chief executive with effect from 12 June. 12. Hamer is leaving to take up the post of chief executive at Sir Robert McAlpine with effect from July 31.

The group also confirmed the appointment of Jeremy Beeton to succeed Mike McTighe as its chairman with effect from its annual general meeting on 21 September. WYG made the announcements as it reported solid growth in adjusted full-year profits despite contract delays due to the UK general election. WYG reported a 17% rise in adjusted pre-tax profit to £8.2m for the year ended 31 March 31, up from £7.2m a year ago, although headline pre-tax profits have dipped to £1.6m from £2.2m.

In a statement on McCormick’s appointment, 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 £200m of revenues and over 1,700 staff across the UK, India and China.”

The group’s revenue rose by 14% to £151.8m, up from £133.5m last year, with second half revenues up 10% to £78.3m. WYG said that their trading in the current financial year was in line with their expectations, with solid revenue growth continuing in the UK.

Commenting on the results, Paul Hamer, WYG’s outgoing chief executive, said: “Despite a temporary curtailment in the process of formalising some contractual commitments as a result of the UK general election, we have started the current year well having already won a significant contract in Africa and places on two major UK frameworks.

“The opportunities we are seeing in our core consultancy services and international development markets, combined with our initiatives to drive efficiency and resilience across the group, leave us in a strong position from which to deliver good growth in the current year.”

Hamer leaves WYG after joining the group in July 2008 and overseeing the transformation of the business. Commenting on his departure, in a statement the firm said: “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.”

Commenting on his appointment as chief executive, Douglas 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.”

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