Davies who has been Chief Executive of the Wates Group (one of the UK's largest privately-held construction, development and property service firms) since 2014 and was formerly with defence contractor, BAE Systems, will take the reigns from Interim CEO Keith Cochrane on 2 April 2018 when he will become a member of Carillion's Board.
Cochrane has steered the company through a turbulent period following the collapse of its share price in July when institutional, predominantly hedge fund investors, took fright from a profits warning.
Earlier this week, the FTSE 250 construction and support services outsourcer announced the sale of its healthcare business to Serco as part of an on-going restructuring and recapitalisation programme which has attracted support in the form of new revolving credit facilities from its bankers.
Carillion has also recently announced major new construction contracts with the British government and (through joint-venture Al Futtaim Carillion), the UAE's Emaar Properties.
The group has also reversed an earlier decision to seek a buyer for its Canadian subsidiary.
Discussing the new appointment, Carillion Chairman Philip Green said, "Andrew has the ideal combination of commerciality, operational expertise and relevant sector experience to build on the conclusions of the strategic review and to lead the on-going transformation of the business. His experience and his people focussed personal style are an ideal combination for our business. We are pleased that he has agreed to join us and we are grateful to Keith Cochrane for his interim leadership of Carillion."
