{"id":154099,"date":"2025-08-13T10:36:24","date_gmt":"2025-08-13T09:36:24","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=154099"},"modified":"2025-08-13T10:36:24","modified_gmt":"2025-08-13T09:36:24","slug":"new-severfield-ceo-appointed-after-year-losses","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/people\/new-severfield-ceo-appointed-after-year-losses\/154099\/","title":{"rendered":"New Severfield CEO appointed after a year of losses"},"content":{"rendered":"<h2>After a year of welding issues and a long search, the role at Severfield has finally been filled by Paul McNerney, due to start in Autumn<\/h2>\n<p>Paul McNerney is set to be the new Severfield CEO, bringing more than 25 years of experience to the leadership.<\/p>\n<p>Paul has previously had a long career at Laing O\u2019Rourke, and is currently director of clients and government.<\/p>\n<h3>A long history in the sector<\/h3>\n<p>Aside from his career at Laing O\u2019Rourke, Paul has also worked as the managing director at Select Plant Hire, Explore Manufacturing, and Crown House Technologies, overseeing leadership across many large and complex projects.<\/p>\n<p>Paul\u2019s experience makes him well equipped to bring growth and operational excellence to the role, as demonstrated by his leadership role at Laing O\u2019Rourke leading a business worth \u00a31.3bn, working on major projects such as Oxford University Humanities campus, and the new Everton stadium.<\/p>\n<p>Paul McNerney said: \u201cI 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\u2019s market leadership and long-term success.\u201d<\/p>\n<p>Charlie Cornish, chair of Severfield plc, added: \u201cWe 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.\u201d<\/p>\n<h3>The new Severfield CEO comes after a rough year for the firm<\/h3>\n<p>In July, Severfield <a href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/18m-loss-caused-severfield-bridge-faults\/153422\/\" target=\"_blank\" rel=\"noopener\">published its yearly financial statement<\/a>, highlighting a loss of \u00a318m caused by several welding faults in a variety of bridge contracts discovered earlier that year.<\/p>\n<p>Testing and remediation costs for the found faults amounted to \u00a343.4m, offset slightly by \u00a320m in insurance, but being exacerbated by \u00a335.6m in non-underlying costs.<\/p>\n<p>Some of the discovered faults affected <a href=\"https:\/\/www.hs2.org.uk\/about-us\/\" target=\"_blank\" rel=\"noopener\">HS2<\/a> bridges.<\/p>\n<p>Speaking about the financial results at the time, Charlie Cornish, non-executive chairman, said: \u201cWhile we performed well operationally, delivering a diverse range of projects for clients across many of our key market sectors, tough market conditions in the UK and Europe, combined with the ongoing bridge remedial works programme, contributed to weaker financial results.<\/p>\n<p>\u201cIn response to these challenges, we have taken and continue to take appropriate cost reduction and cash conservation measures.<\/p>\n<p>\u201cDespite the current market backdrop, we have secured a strong baseload of work for FY26 and into FY27, and we continue to see some good projects coming to market.\u201d<\/p>\n<div class=\"mk-custom-module-container\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p>A new Severfield CEO has been announced, with Paul McNerney, current director of clients and government at Laing O&#8217;Rourke.<\/p>\n","protected":false},"author":32,"featured_media":154100,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[172730],"tags":[997,908,592],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-154099","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-people","8":"tag-development","9":"tag-economy","10":"tag-skills"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>New Severfield CEO appointed after a year of losses<\/title>\n<meta name=\"description\" content=\"A new Severfield CEO has been announced, with Paul McNerney, current director of clients and government at Laing O&#039;Rourke\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/people\/new-severfield-ceo-appointed-after-year-losses\/154099\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Severfield CEO appointed after a year of losses\" \/>\n<meta property=\"og:description\" content=\"A new Severfield CEO has been announced, with Paul McNerney, current director of clients and government at Laing O&#039;Rourke\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/people\/new-severfield-ceo-appointed-after-year-losses\/154099\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building &amp; 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