Consultant also posts drop in third quarter profit and revenue, partly blamed on Brexit
Arcadis chief executive Neil McArthur is leaving the consultant after clashing with the board over the future direction of the 拢3bn-turnover firm.
Renier Vree, chief financial officer at Arcadis, will replace McArthur temporarily until a permeant replacement is found.
In a statement Arcadis said McArthur (pictured) was leaving 鈥渂y mutual agreement鈥� after 鈥渁 difference of opinion on Arcadis鈥� path moving forward鈥�.
Arcadis will honour McArthur鈥檚 base salary for the year of 鈧�630,000 (拢563,000).
The announcement came as Arcadis posted a drop in third quarter profit and revenue this morning, which it partly blamed on the UK鈥檚 vote for Brexit.
Underlying profit for the period dropped a third to 鈧�38.6m (拢34.5m), down from 鈧�57.5m (拢51.4m) the previous year. The firm blamed the Brexit vote and cost pressures.
Meanwhile, revenue dropped 7% to 鈧�797m (拢712.3m), down from 鈧�854m (拢763.3m), which it attributed to the weaker pound post-Brexit vote, continued difficult trading in Brazil and intense competition in North America.
Commenting on McArthur鈥檚 departure, Arcadis chairman Niek Hoek said: 鈥淣eil McArthur has provided Arcadis with excellent leadership since he became CEO in 2012.
鈥淣eil and the Supervisory Board have agreed that it is the right time for a new leader to take Arcadis forward. We will begin a search internally and externally for a new CEO.鈥�
McArthur said: 鈥淚 am proud of what we have achieved as a company over the past five years.
鈥淣ow it鈥檚 time for someone else to lead Arcadis through the next stage of our journey. I have no doubt that our people will continue to deliver exceptional and sustainable client solutions, and improve quality of life across the globe.鈥�
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