Shearer is a former senior partner at accountant Deloitte and has led the previous corporate restructurings of Crest Nicholson and City Inn Ltd.

He takes over as Mouchel chairman on January 9 when interim chairman Sir Michael Lyons will step back into his role as Senior Independent Director.

Sir Michael Lyons said: “David’s extensive experience of turnaround and capital restructuring situations was a key factor in his appointment and his appointment is good news for everyone who has an interest in the early recovery of Mouchel.

“I am confident David will work well with the Board and with the new executive team of Grant Rumbles and Rod Harris.”

Shearer said: “Mouchel has built a strong position and reputation in the UK public sector consultancy and business services market. I’m delighted to become Chairman of Mouchel and look forward to working with Grant Rumbles and Rod Harris to help bring about its recovery and contribute to its future success.”