Founder Ray O’Rourke says departure is right to make way for others ‘with longer horizons’
Paul Sheffield is stepping down as managing director at Laing O’Rourke just two years and four months after joining the contractor.
In a statement, Laing O’Rourke founder Ray O’Rourke said it was the right time for Sheffield (pictured) to “make way for others currently in the business with longer horizons”.
The firm said that Sheffield - who joined after a stint as chief executive of rival contracting giant Kier - had indicated when he joined Laing O’Rourke in October 2015 that this was “based on a relatively short horizon”.
Laing O’Rourke - which is looked to rebound after posting a £246m pre-tax loss for the financial year to March 2016 - said its business plans to 2020 were now complete and its “vision to 2025” would be signed off by May this year.
Ray O’Rourke said: “Paul and I feel that now is an appropriate time for him to step off and make way for others currently in the business with longer horizons.
“I would like to personally thank Paul for his tireless efforts and dedication over the past three years. His leadership has been instrumental in ensuring the business is now on track to grow safely and profitably in the coming years.”
Paul Sheffield said: “Laing O’Rourke’s client base, technical capability and opportunity to excel across a broad range of major projects, puts the business in a lead position within our industry. Delivering for clients is at the core of the Laing O’Rourke business ethos. I know the leadership teams in place across the business will continue to ensure that clients’ commitments are delivered with certainty.”
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