Stacey will take up his new role at UK Research and Innovation (UKRI) next month

He will be director of UKRI’s Industrial Strategy Challenge Fund’s Transforming Construction drive.

Stacey has been with Skanska for nearly eight leading innovation initiatives.

The Transforming Construction challenge is a £170m research and innovation investment, matched by £250m from industry, to create new construction processes and techniques.

It is linked to the Construction Sector Deal and includes funding for research, a new construction network and the creation of an active building centre and innovation hub.

Stacey said: “The UK has some of the best engineering, architectural and construction firms in the world, but the sector as a whole lags others such as manufacturing.

“I firmly believe that the Challenge Fund award and the Industrial Strategy sector deal represent an opportunity to take the UK construction industry from one of the world’s best to an absolute world-beater. I am very much looking forward to leading it.”

UKRI Chief Executive, Professor Sir Mark Walport, said: “This challenge provides an opportunity to transform UK construction productivity.

“Sam has an important role in overseeing the funding to develop these new innovative construction materials and techniques.

“His commitment to harnessing new technology and processes, and his experience across academia and business, make him the ideal candidate to drive forward the challenge.”