Costain finance chief to step down next month

Aaron Morby 2 years ago
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Costain finance director Tony Bickerstaff is to step down after 14 years in the role.

Bickerstaff is looking forward to his next challenge
Bickerstaff is looking forward to his next challenge

The firm has started the search to replace Bickerstaff who will remain in his current position until the end of November.

He steps down at a challenging time for Costain as it battles to restore its share price from around 40p to its level of around £4 two years ago.

Last month Costain announced a £92m first half loss after taking big hits on the A465 Heads of the Valleys road contract and the Peterborough & Huntingdon gas station job.

Earlier this year Dubai-based contractor ASGC injected £100m into the business taking a 15% stake..

Dr Paul Golby CBE, chair, said: “Tony has been with Costain for 14 years and I would like to thank him for his significant contribution and personal commitment to the Group during this time.

“He has been a valued member of the board and we wish him every success in his next career move”.

Bickerstaff said: “I have enjoyed my time at Costain and I’m proud to have worked with so many talented people. I look forward to my next challenge and wish the board and my colleagues the very best for the future.”

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