Wates names BAE man as new chief executive

WATES Group, one of the UK’s largest family-owned construction companies, said that Andrew Davies of BAE Systems will take over as its chief executive on January 6 next year.
By The Newsroom
Published 24th Sep 2013, 01:01 BST
Andrew DaviesAndrew Davies
Andrew Davies

He will replace Paul Drechsler who earlier this year announced his intention to step down from the role after nearly 10 years.

James Wates, chairman of the group, which has offices in Leeds, said: “Andrew joins our company at a very exciting time as the construction industry begins to see some positive signs of recovery from this prolonged recession. The company is performing well and we are on track to deliver our projected turnover and objectives for 2013. We will also finish the year with a significantly improved order book providing strong prospects for growth in 2014.

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“Paul Drechsler leaves Wates in excellent shape having built our business into a £1bn group. Andrew will develop our business further, and we are looking forward to welcoming him as our new chief executive in January.”

Mr Davies, who graduated in business studies from Sheffield University, is currently managing director of BAE Systems’ maritime business.

Related topics:BAE SystemsLeeds