Severfield plc (LSE:SFR) has appointed Paul McNerney as its next Chief Executive Officer, with the role to commence in the autumn. McNerney brings more than 25 years of leadership experience in the construction and engineering industries, most recently at Laing O’Rourke, where he oversaw major projects and spearheaded business transformation and growth initiatives.
His leadership is expected to guide Severfield through its current rebuilding phase and position the company for a new chapter of expansion and innovation, reinforcing its market leadership and long-term prospects.
While Severfield continues to face financial pressures, particularly in revenue and cash flow, its stable balance sheet and attractive dividend yield offer some resilience. Technical indicators suggest neutral momentum, and recent corporate developments provide a modestly positive influence on the outlook.
About Severfield
Severfield is the UK’s leading structural steel specialist, with an annual production capacity of roughly 150,000 tonnes. Operating from seven sites and employing around 1,800 people, the group delivers large-scale, complex projects across diverse sectors. It also holds a 50/50 joint venture with JSW Steel, India’s largest steel producer, expanding its footprint in the Indian market.
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