Troubled civil engineering firm appoints new finance chief

Huthwaite construction firm nmcn has appointed a new finance boss.

Alan Foster will join the listed company in early 2021 from National Grid where he has held a range of senior financial and business development roles over a period of 20 years. His most recent two roles have been group finance transformation director and UK CFO of the regulated UK businesses of National Grid. Prior to National Grid he held finance roles at Dewhirst Group and British Sugar.

Ian Elliott, acting chairman, said: “I am delighted that Alan will be joining nmcn as CFO early next year. His considerable expertise and experience will be highly relevant as we look to reinforce the Group Executive Team and position ourselves to address the opportunities that our focus markets continue to present.”

Foster joins two weeks after nmcn said it was launching an investigation into all of its major contracts.

In a trading update, nmcn said it will lose between £13.5m and £15m this year. The firm said an external investigation has started to verify the extent of prior year adjustments included within the loss.

The news comes two weeks after chief executive John Homer left the company with immediate effect.