The chief executive officer of Havelock Europa has resigned as the fit-out specialist racked-up a £2.6m loss in the first half of this year.
David Ritchie has quit to “pursue other business interests” and is being replaced by Shaun Allen Ormrod who was previously CEO at conference business Farnborough International.
Havelock saw pre-tax losses rise to £2.6m from £868,000 last time as turnover dipped to £23.2m from £25.4m.
The firm blamed a slow down in public sector work in Scotland and delays to the second phase of the ESFA Priority Schools Building Programme in England.
Havelock has been reviewing its strategy and will announce the results next month.
Chairman Ian Godden said: “Havelock has experienced a difficult first half, with market uncertainty among both public and private sector clients resulting in reduced or delayed activity.
“I believe, however, that our new leadership team, combined with our developing commercial strategy, will set a strong foundation for the future.”
from Construction Enquirer http://www.constructionenquirer.com/2017/09/27/ceo-quits-at-fit-out-specialist-racks-up-losses/
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