Severfield, the Thirsk, North Yorkshire-based international steel group, announced the appointment of Laing O’Rourke executive Paul McNerney as its new CEO “following a comprehensive executive search process.”
McNerney will take up this new role in the Autumn on a date yet to be agreed.
Former Severfield CEO Alan Dunsmore stepped down “by mutual consent” after seven years on June 30.
The company’s shares are down more than 60% for the past year, reducing the company’s stock market value to about £90 million.
Severfield’s high-profile achievements in recent years have included its work on Wimbledon No.1 Court, Tottenham Hotspur FC Stadium, First Direct Arena, Outernet London and the Lord’s Cricket Ground Expansion.
“Paul brings over 25 years of extensive leadership experience within the construction and engineering sector, most notably from his long-standing career with Laing O’Rourke,” said Severfield.
“He is currently Director, Clients and Government at Laing O’Rourke and has previously been Managing Director of the UK construction business, Select Plant Hire, Explore Manufacturing, and Crown House Technologies.
“He has operated at an enterprise level overseeing strategic commercial leadership and stakeholder management across complex, large-scale projects.
“Throughout his career, Paul has been instrumental in driving transformation, profitable growth, and operational excellence in construction and in manufacturing.
“As Managing Director of the UK construction business at Laing O’Rourke, he led a £1.3bn business across key sectors including stadia, healthcare, life sciences, data centres, aviation, and mixed-use developments.
“He also played a pivotal role in securing and delivering complex schemes such as the Oxford University Humanities campus and Everton’s new stadium (both of which were also Severfield projects).
“Paul’s international experience includes establishing infrastructure operations in New South Wales Australia, where he led heavy civil and marine projects for Laing O’Rourke, and was key in opening up new business in oil and gas markets.
“Paul is a Chartered Surveyor by profession, a member of the CBI UK Competitiveness Committee and is currently also a member of the Liverpool – Manchester Railway Partnership Board.”
Severfield plc chair Charlie Cornish 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.
“The Board is confident that Paul will bring the energy, experience, and clarity of leadership required to deliver long-term value for shareholders.”
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.”