New chief for troubled Carillion

TROUBLED Carillion has appointed a chief executive to spearhead its turnaround.

The infrastructure group said on Friday that Andrew Davies is to take the hot seat in April after a shock profit warning in July saw Richard Howson step down.

Davies is chief executive of rival Wates Group. Prior to that, he held a series of senior roles with BAE Systems over a 28year period.

But he will have his work cut out at Carillion, which has around 43,000 staff worldwide.

The company has been thrown into crisis since the July trading update, which sent its shares tumbling by more than 70pc in one week.

Earlier this year the firm also revealed mammoth half-year losses totalling £1.15bn.