Tilbury Douglas MD to leave

Tilbury Douglas managing director for infrastructure Chris Tyerman is to leave the company amid a restructure of its board.

All operations will in future report to head of UK building Craig Tatton.

Tyerman (pictured left), who joined the firm then known as Interserve from Costain in 2014, is the only director to leave the contractor as a result of the restructure.

Tilbury Douglas chief executive Paul Gandy said: “The decision has been made to restructure the Tilbury Douglas Construction board and reduce the number of statutory directors, with all operations now reporting to Craig Tatton.

“As a result of this restructure, after a short handover period, Chris Tyerman will be leaving the business with our thanks and best wishes.”

He added: “Tilbury Douglas is committed to the infrastructure sector, and looks forward to not only developing our Water and Highways operations, but also to broadening our base in this critical and exciting sector.”

Earlier this year, the contractor became a standalone company, fully separate from Interserve Group. It is now owned by former shareholders of Interserve.

The former contracting giant turned over £370.4m in the year to 31 December 2020, down from £464.8m in 2019, which covered the period during which Interserve went through its pre-pack administration. It made £15.4m in pre-tax profit, compared with a £91.3m loss in the previous year.

Its figures for 2019 have been restated from its previously published totals due to incorrect classifications of impaired investments and an impairment of £89m previously stated as administration expenses. These have no effect on the firm’s assets.

Tilbury Douglas no longer operates in the energy-from-waste sector, which caused the former Interserve Construction a large proportion of its financial problems.

Leave a comment