Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Carillion chief steps down as public-private partnerships struggle

  • Comment

The chief executive of Carillion has stepped down with immediate effect amidst profit warnings on contracts relating to public-private partnership projects worth £845m.

Richard Howson, who has been the group’s boss since January 2012, has been replaced by non-executive director Keith Cochrane on an interim basis.

An enhanced review of all of the group’s material contracts, with the support of KPMG and its contracts specialists, is now underway.

Carillion issued a profit warning on contracts worth £845m at 30 June 2017, of which £375m relates to public-private partnership projects in the UK. It said the contracts overall, which includes £470m in oversees contracts, could cost the business up to £150m primarily in 2017 and 2018.

To read more about this story, read LGC’s sister title Construction News’ report here.

Tags

  • Comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions.

Links may be included in your comments but HTML is not permitted.