Watkin Jones appoints new chair and finance chief

Watkin Jones updated the market on its board succession plans on Monday, following Grenville Turner giving notice of his intention to retire as chair, and Phil Byrom giving notice of his intention to retire as chief financial officer in 2022.

The AIM-traded firm said that, following an active recruitment process, it has appointed a new chair-designate and CFO-designate.

Alan Giddins had been appointed as non-executive director and chair-designate with immediate effect, with Turner set to step down from the board in October, and Giddins to take over as chair, having allowed time for an orderly handover.

It said Giddins is currently Chair of FTSE 250 company Hill & Smith, having joined in October 2017 as the senior independent director, before assuming the role of chair in October 2019.

He is also a non-executive director and investment committee member of Big Society Capital, the UK's largest social impact-led investor.

Watkin Jones said Giddins would bring a “wealth” of board, investment and environmental, social and governance experience, having been managing partner and global head of private equity at 3i Group, and sat on the boards of a number of 3i's largest private equity investments.

Before joining 3i in 2005, he spent 13 years in investment banking advising a “broad range” of quoted companies.

Giddins qualified as a chartered accountant, and has a degree in economics.

Sarah Sergeant, meanwhile, had been appointed to the board as chief financial officer-designate with effect from 6 October.

Phil Byrom would step down from the board, and Sergeant would step up to CFO, after a “suitable” handover period.

Sarah Sergeant is currently the chief financial officer of the UK and Ireland region at food and support services company Compass Group.

She had held a number of senior finance and operational roles over her 13-year tenure at Compass, including group financial controller, merger and acquisition director, and CFO of the Asia-Pacific region, based in Singapore.

Sergeant would bring “considerable” financial, strategic and operational experience from across the commercial spectrum, the board said, adding that she is a chartered accountant.

“We are delighted to welcome Alan and Sarah to the board,” said Grenville Turner.

“Alan brings considerable expertise particularly in guiding companies through the execution of their growth strategies and Sarah brings significant financial and operational experience working in complex businesses.

“Their experience will be invaluable to Watkin Jones as we continue to grow the business.”

At 1021 BST, shares in Watkin Jones were down 1.75% at 221.55p.