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Arcadis names Peter Oosterveer as new CEO

Arcadis has picked former Fluor COO Peter Oosterveer as its new CEO, subject to approval by shareholders.

Mr Oosterveer will replace interim CEO Renier Vree, who has headed up the global consultant since Neil McArthur stepped down in October last year following a “difference of opinion” with the company’s board.

He will join as CEO subject to approval by shareholders at the firm’s AGM, which is due to be held on 26 April.

The announcement follows a trading update for Q1 2017 in which Arcadis reported a dip in revenue of 3 per cent year on year.

Gross revenues fell to €818m (£683.9m) for the quarter, down from €846m (£707.3m) a year earlier, while EBITDA declined to €51.9m (£43.4m), down 7 per cent year on year.

However, the firm said its market outlook for 2017 was unchanged and expected positive business sentiment among private sector clients to continue.

Arcadis also noted “positive signals” from the Trump administration for new infrastructure and building works in the US, adding that the weaker pound had “a small positive impact” on revenues in the UK.

Mr Vree, who will return to his role as chief financial officer following Mr Oosterveer’s appointment, said: “We see a healthy pipeline of market opportunities across our businesses.

“Our operating model has been simplified and we realised the associated structural cost savings.

“We see a positive business sentiment in most geographies, but we remain cautious about market developments in Brazil, the Middle East and parts of Asia.

“We will continue to focus on winning work with our clients, reducing working capital and sustaining our momentum.”

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