Van Elle has announced that former Balfour Beatty managing director Mark Cutler is to join the business as the successor to John Fenton as chief executive.
Van Elle has said that it expects Cutler to take on the role by October this year and has appointed Stephen Prendergast as interim chief executive when Fenton steps down from the post on 18 May.
“We wish Jon Fenton and his family well for the future, and thank him for his contribution to the Company over the past eight years, including the successful IPO in 2016,” said Van Elle chairman Adrian Barden.
“We are delighted that Mark Cutler is joining Van Elle. He is highly regarded across the industry and will be bringing with him a wealth of valuable experience across all our major sectors, especially in rail and housing where we have many opportunities to build on our already strong market positions. Ensuring a smooth leadership transition process has been a key focus of the board and we are pleased that Stephen Prendergast will be able to step in to support the management team over the next few months.”
News about the appointment was made as part of a trading update from Van Elle in which the company said that adverse weather conditions had impacted business since January. Nonetheless, the company said that it was expecting to show modest year on year revenue growth in the second half against a strong comparative period last year.
“While market conditions have been less supportive in the second half, the team has worked hard to continue to win work and deliver this effectively,” said Barden. “We continue to progress our strategic initiatives and believe that these have positioned the group well for the future.”
Van Elle previously said that the collapse of Carillion resulted in an exposure of £1.6M but has reported that it has been working with Carillion’s advisors to determine the status of existing and planned projects. The company said that it has been able recommence work on a number of schemes as a result and expects the bad debt charge to be reduce to £1M as a result.