Severfield: Yorkshire-based structural steel firm appoints new CEO
Yorkshire-based structural steel firm, Severfield, has announced that it has appointed a new chief executive officer.
The firm has appointed Paul McNerney, currently of engineering and construction firm Laing O'Rourke, as its new chief. Mr McNerney will take up the new role in Autumn.
Severfield said Mr McNerney brings with him over 25 years of leadership experience. He currently serves as director, clients and government, at Laing O'Rourke, and has previously held senior roles at firms including Select Plant Hire, Explore Manufacturing, and Crown House Technologies.
Mr McNerney said: "I am delighted to be joining Severfield at such a pivotal time in its journey.
“The company has a proud heritage, strong values, and a clear opportunity to lead with innovation and excellence in the structural steel sector.
“I look forward to working with the Board, our talented teams, and customers to continue building Severfield's market leadership and long-term success."
While at Laing O'Rourke, Mr McNerney played a role in securing and delivering complex schemes such as the Oxford University Humanities campus and Everton's new stadium.
The announcement comes after Severfield announced in March that after more than seven years as chief executive officer, Alan Dunsmore had agreed by mutual consent to step down as head of the firm.
In a statement issued at the time of the announcement, Mr Dunsmore said: "It has been a privilege to spend 15 years of my career at Severfield and to have led the development of the business in the UK, Europe and India.
“Now is an appropriate time to hand over to a new CEO to build on Severfield's unique strengths and accelerate the growth of the business."
In March, Severfield issued a profit warning after it said it had been hit by “challenging” market conditions and a major project delay.
The company said it expected its pre-tax profit for the year to be in the range of £18m to £20m, short of its previous expectations, citing a large, unnamed project as one of the major factors in the shift.
Severfield also announced at the time that it had revised its figures to reflect changes on a long-term nuclear project contract, originally tendered in 2019.
Speaking on the latest announcement, Charlie Cornish, chair of Severfield plc, said: "We are delighted to welcome Paul to Severfield.
“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.”