Severfield, the Thirsk, North Yorkshire-based international steel group, announced that after almost eight years as its chief financial officer (CFO), Adam Semple “has agreed with the board that he will step down from his role as CFO and leave the group at the end of October 2025.”

Severfield said Semple will remain in post to support a smooth handover of his responsibilities during this period.

It said the process to appoint Semple’s successor is underway and, whilst the search is conducted, “interim arrangements are being finalised.”

On August 13, Severfield announced the appointment of former Laing O’Rourke executive Paul McNerney as its new CEO. Former Severfield CEO Alan Dunsmore stepped down “by mutual consent” after seven years on June 30.

The company’s shares are down roughly 60% for the past year, reducing the company’s stock market value to about £95 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.

The North Yorkshire company has seven sites, 1,800 employees and an established presence in the expanding Indian market through its joint venture partnership with JSW Steel, India’s largest steel producer.

Severfield chair Charlie Cornish said: “On behalf of the board, I would like to thank Adam for his significant contribution to the group over the past 12 years.

“In particular, during the past six months, he has provided continuity and leadership at a time of transition, including stepping up to help guide the business while we operated without a CEO. We thank him for his commitment and professionalism, and we wish him every success in the future.

“The board and the executive team under new leadership with Paul McNerney remain focused on building on Severfield’s market-leading position in the UK and growing presence in Europe and India, driving strategic progress on manufacturing efficiency and project delivery, and positioning the group for further growth and long-term shareholder returns.”

Semple said: “It has been a privilege to serve as CFO and work alongside such a talented and committed team.

“Over the past 12 years, we’ve achieved a great deal together, but now is the right time for a change to take place. Severfield is a fabulous company, with great opportunities ahead, and I wish them and all my colleagues continued success in the future.”