Ian Reeves has stepped down as McGee chairman after seven years with the company for reasons including a “substantial difference of opinion” regarding the group’s strategy.
Mr Reeves resigned as McGee non executive chairman and from the board of Dealpride Limited, the ultimate holding parent company of McGee.
He told Construction News that “over a period of time, a substantial difference of opinion had developed regarding the strategy [of the group] and management of its implementation”.
His contract as non-executive chairman came to an end last September. An extension to the contract had expired when Mr Reeves announced his resignation at a board meeting last month.
Mr Reeves said he had decided not to extend the contract. He had joined the business in 2007, prior to a potential IPO which then failed to materialise after the collapse of Lehman Brothers and the ensuing downturn.
Mr Reeves said there was a restructuring of the management of the business at the time, at which point he was asked to stay on as non-executive chairman, having joined the company originally as chairman.
Dealpride Ltd had revenue of £92.2m and pre-tax profits of £548,000 in the year to 30 November 2013. It had £75.6m revenue and made a pre-tax loss of £2.4m the year before.
Of the £92.2m revenue, £84.9m was made in its contracts business, with the rest shared between asbestos services, plant & haulage, recycling & tipping and telecommunication support services.
Brian McGee, managing director of McGee, issued a statement in response.
He said: “The business has benefited greatly from Ian’s advice and guidance over the course of his time as chairman of McGee. Ian’s tenure coincided with one of the most prolonged downturns the industry has experienced. His steady hand combined with strong views and a robust personality were a source of great strength for the group over that time.
“As we look forward to brighter times it is inevitable there will be contrasting opinions as to how best to take the business forward. Ian is resolute in his views which he expresses forcefully but those views are not shared by the board as a whole. The group thanks Ian for his tenure as chairman and wishes him success with the many business interests in which he is involved. McGee meanwhile looks forward with confidence to the future.”
Mr Reeves has chaired infrastructure fund GCP Infrastructure Investments Ltd since its IPO and also co-founded with managing partner Madoc Batcup a management, strategy and funding consultancy Synaps Partners LLP which works with clients in the UK and abroad.
Mr Reeves told Construction News that both businesses were growing strongly.
He is also chairman of Constructing Excellence and a visiting professor at Manchester Business School.