More details on hunt for successor expected next month with current boss due to go by end of year
Mace has said it will look both internally and externally for a new chief executive at its construction business after current boss Jason Millett said he would be leaving the firm at the end of the year.
Millett told staff yesterday afternoon that he was stepping down after two years in charge although he is staying on as a non-executive at the firm’s recently disposed of consulting business.
Building understands that Millett, who has spent 40 years in construction having joined Bovis in 1986 as a trainee before becoming chief executive of Bovis Lend Lease in 2003, is looking to remain in the industry with a move into a client role one possibility being considered.
Mace, which as well as a new chief executive is also looking for a new name, has not yet appointed headhunters to find Millett’s replacement but it is believed he will be helping Mace Construct executive chairman Mark Reynolds, who is leading the search, find a replacement. Mace added Reynolds will now be playing a “more active role” at Construct in the wake of the news.
Mace is due to report its annual results – its last which will include figures from Mace Consult – next month when it is expected to give an update on the search.
Internal candidates likely to throw their hats into the ring include Ged Simmonds, the managing director of its commercial construction business who joined in 2013 from Laing O’Rourke, Construct’s chief operations officer Stephen Jeffery, who joined Mace in 1996, and its public sector managing director Rob Lemming, who has been at the firm 12 years.
Millett said: “Following the successful separation of Mace Consult, this felt like a natural moment to reflect on what comes next. I’m grateful to Mace for the opportunity to complete this chapter properly, and to the colleagues, clients and partners who have supported me along the way.”
Millett, who joined the business in 2008, is credited with helping turn the Consult division into one that was sold to Goldman Sachs earlier this year for a reported £875m.
The US bank has a 75% stake in Consult with several other Mace executives, including Reynolds and Millett, holding the remaining 25%.
Paying tribute, Reynolds said: “Jason has played a crucial role in the success of the business over the past 18 years and, during his tenure as chief executive, has provided exceptional leadership across both our Consult and Construct teams.
“Over the coming months, Jason and I will work closely together as he transitions out of the business and the board shapes its future leadership plans for Mace Construct as we develop our new identity and strategy.”
Meanwhile, Mace has begun drawing up a longlist of replacement names with the marque set to disappear from Construct’s site hoardings by the end of the year.
It is understood a new name will be in place by the time Millett goes in December. The firm is also believed to be looking at moving out of its 155 Moorgate home of the past 12 years at the end of the year as well, following Mace Consult which is moving out into a new City office this autumn.
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