Wates has spent six months searching for Paul Drechsler,
Andrew Davies is currently managing director of BAE Systems鈥� Maritime business, managing a turnover of more than 拢2bn and more than 14,000 employees.
Before this, he was group strategy director and managing director of Land Systems.
Wates said that Mr Davies has 鈥渟ignificant PFI and financing experience commercially, strategically and operationally鈥�.
Wates chairman James Wates said:聽 鈥淎ndrew joins our company at a very exciting time as the construction industry begins to see some positive signs of recovery from this prolonged recession. The company is performing well and we are on track to deliver our projected turnover and objectives for 2013. We will also finish the year with a significantly improved order book providing strong prospects for growth in 2014.
聽鈥淧aul Drechsler leaves Wates in excellent shape having built our business into a 拢1bn group. Andrew will develop our business further, and we are looking forward to welcoming him as our new chief executive in January.鈥�
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