Costain Regulatory News (COST)

25 Apr 2005 11:06

Costain Group PLC25 April 2005 Costain Group PLC ("Costain" or the "Company") APPOINTMENT OF NEW CHIEF EXECUTIVE The Board of Costain is pleased to announce that Andrew Wyllie, currentlyManaging Director of Taylor Woodrow Construction Limited, will succeed StuartDoughty as Chief Executive of the Company at a date to be finalised, butexpected to be not later than September 2005. Andrew Wyllie joined Taylor Woodrow in 1984 after graduating from the Universityof Strathclyde, Glasgow with a BSc (Hons) degree in Civil Engineering. Heworked for several years on a variety of major contracts in Saudi Arabia, Ghana,the Falklands and Malaysia, as well as projects in the United Kingdom. After becoming a Chartered Engineer (MICE) Andrew studied full time between 1991and 1993 for his MBA degree at the London Business School. In 1999, following aperiod as Business Development Executive for Taylor Woodrow plc, Andrew wasappointed a Director of Taylor Woodrow Construction Limited and in 2001 becameManaging Director of the business which today has a turnover of some £500m. Heis also a member of the Taylor Woodrow plc Executive Committee. Commenting on the appointment, David Jefferies, the Chairman of Costain said: "It is excellent news that Andrew Wyllie will be joining Costain. When wecommenced the search for Stuart's successor, Andrew was immediately identifiedas a leading candidate for the job. His experience in the industry and robustmanagement approach make Andrew ideally suited to taking Costain into the nextphase of its development. Stuart Doughty has led Costain through a rapid recovery and, when he steps down,he can be proud of what he has achieved. We have been extremely fortunate tohave had him at the helm and, on behalf of everyone at Costain, thank him forhis major contribution over the last four years." Stuart Doughty commented: The Costain business has once again become a major name in the UK andinternational arenas. It has been a privilege to have been a part of theCostain story and to have worked with some wonderful colleagues who, I amabsolutely confident, will continue to build on the Company's success underAndrew's leadership." 25 April 2005 Enquiries: Costain Group PLC Tel: 01628 842 444 David Jefferies, ChairmanGraham Read, Public Relations College Hill Tel: 020 7457 2020 Mark GarrawayMatthew Gregorowski This information is provided by RNS The company news service from the London Stock Exchange