Exclusive: EMEA construction MD departs post with immediate effect as 90 jobs are put at risk
Michael Dyke, Lend Lease’s managing director of construction in Europe, the Middle East and Asia (EMEA), has left his role in the company with immediate effect as part of a major streamlining of the business.
Building understands 90 jobs are currently at risk across the UK and European region.
It is understood Dyke - who joined the firm in summer 2011 - will be leaving the firm in the along with at least three other senior figures.
Dyke will be replaced as managing director by the firm’s current EMEA director of operations, Neil Martin, on an interim basis until a permanent replacement is appointed.
Lend Lease’s EMEA commercial director, Tom Spilsted; operations director Simon Parham; and senior legal counsel Alistair Cutts are also understood to be leaving the firm.
The moves follow a strategic review undertaken by Lend Lease’s chief executive of EMEA, Simon Hipperson, who took up his role last October.
The review has resulted in a drive to substantially cut the firm’s overheads.
In a statement the firm said: “Like any agile and forward looking business we are continuously reviewing how we work to ensure that our development, construction and investment management operations are as integrated and effective as possible in order to deliver the best value for our shareholders and partners.
“We are streamlining our central overhead to maximise cost effectiveness, to ensure that our projects have the optimal level of support and to position Lend Lease for continuing growth in the region.”
Dyke joined Lend Lease from National Grid, where he had been head of construction, in July 2011.
At Lend Lease he has been responsible for leading on the design and construction of major infrastructure projects.
The shake-up represents the latest in a string of senior staff changes.
Last month, it emerged that Lend Lease’s EMEA chief financial officer Stephen Grist had left the firm to be replaced by another Lend Lease manager, Victoria Quinlan. The firm also announced that Roy Allport had been promoted from within to run the company’s Scottish business from October.
In January, the firm appointed former Morgan Sindall managing director Gordon Ray as boss of its North-west division.
Building also reported last autumn that Karen Campbell, executive general manager of Lend Lease EMEA’s project management and construction business, and UK head of major projects, Richard Cable, had also departed from the firm’s EMEA business.
In February, the firm’s European arm reported an after-tax profit of AUS$60.5m (£40m) for the six months to 31 December 2012, up from AUS$43m (£28.7m) the previous year.