Troubled consultant to bring in turnaround specialist David Shearer to lead firm

Troubled consultant Mouchel has appointed a former chair of housebuilder Crest Nicholson, David Shearer, to lead the turnaround of the company.

Shearer, also a former partner at Deloitte, will take over from interim chairman Michael Lyons as chairman on 9 January next year. He will be the fourth chairman of the company in less than three months.

According to Mouchel, Shearer led the successful restructuring of Crest Nicholson in 2008/9 and of City Inn in 2010/11 as chief strategic adviser to the firm. As a non-executive director he has also been involved in the turnaround and refinancing of Renold, STV Group and Superglass Holdings.

Shearer鈥檚 appointment follows a torrid period for the firm, which has seen its chair and chief executive resign over accounting problems, and the selling off parts of the business to raise cash.

Michael Lyons said Shearer鈥檚 鈥渆xtensive experience of turnaround and capital restructuring situations was a key factor in his appointment and his appointment is good news for everyone who has an interest in the early recovery of Mouchel.鈥�

Shearer said: 鈥淢ouchel has built a strong position and reputation in the UK public sector consultancy and business services market. I鈥檓 delighted to become chairman of Mouchel and look forward to working with Grant Rumbles and Rod Harris to help bring about its recovery and contribute to its future success.鈥�

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