Retiring David Hurcomb to be replaced by current COO in May
NG Bailey chief executive David Hurcomb is retiring in May after 14 years in the role.
Birmingham-born Hurcomb, who turned 60 last month, joined in 2010 from Carillion where he had been a main board director.
He will be replaced by chief operating officer Jonathan Stockton, who arrived at the business in 2016 in a finance role, after nearly a decade at Deloitte.
Stockton became COO last year in a newly created role having been chief financial officer at the M&E firm for nearly three years.
Hurcomb said: 鈥淲hilst we have faced undoubted challenges along the way, including Covid-19 and challenging wider market conditions in more recent times, I am delighted that the business is well on its way to pre-pandemic levels of performance. Indeed, early indications show an increase in turnover and expected double-digit profit figure for the 2023/4 financial year.鈥�
>> See also: Interview: NG Bailey鈥檚 David Hurcomb
In its last set of results for the year to 3 March 2023, NG Bailey fell to a 拢25m pre-tax loss from a 拢3m profit last time. Revenue was up 6% to 拢532m.
The slump into the red was blamed on losses on fixed price jobs and a near 拢7m hit on its investment in failed battery manufacturer Britishvolt.
NG Bailey said Hurcomb will stay on for a 鈥渟hort period鈥� to help with Stockton鈥檚 transition to the chief executive role.
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