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May Gurney chief leaves
7 September 2012
Phillip Fellowes-Prynne has left his position as chief executive of contractor May Gurney, as the firm issues a profit warning.
The company announced in March plans to close its facilities business after a “disappointing” performance, but that process is now facing “significant exiting costs”, May Gurney said.As a result, the firm has set aside a £10m one-off charge to cover those costs, but it also said the overall group will “significantly under-perform its original expectations for the current year”.
Fellowes-Prynne is leaving the company by mutual consent and with immediate effect, the firm said.
He will be replaced by current non-executive director Willie MacDiarmid on an interim basis. “His depth of operational experience will be invaluable over the next period as we move to secure a permanent CEO,” said May Gurney chairman, Baroness Ford.
