Costain has announced that Andrew Wyllie CBE is retiring as chief executive of the infrastructure specialist after 14 years at the helm
Wyllie is stepping down to pursue a non-executive career, having recently taken up the presidency of the Institution of Civil Engineers and a non-exec directorship at Yorkshire Water Services.
Alex Vaughan will replace Andrew Wyllie, Alex is currently managing director of the Costain Group’s natural resources division, in line with the board’s succession plan, which included an internal and external search process.
Vaughan joined Costain in 1992 and joined the executive board in 2006, holding roles in HR, strategy, M&A and corporate development. He has overseen the development and growth of the group’s consultancy and technology services, as well as significant growth in profits for the natural resources division.
In order to ensure a smooth handover, Wyllie will remain as CEO and a member of the board until the company’s AGM on 7 May, and will remain an employee until 6 September.
Dr Paul Golby CBE, Costain’s chair, said: “Andrew can feel extremely proud of what he has achieved at Costain. He leaves the group in good health, result of the growth strategy which he and his colleagues have been implementing for the last 14 years.
“We are delighted that Alex will be taking over. He has played a major role in the development of the group and the implementation of its strategy, and has the expertise and ambition to deliver the future growth of the business.”
Founded in 1865, Costain employs over 4,000 people in the UK across the rail, highways, power, water, nuclear and oil and gas sectors.