Martin Harrison, the Chief Financial Officer, will succeed Martin Donnachie as Chief Executive Officer on 1 August 2017 following an agreed hand-over period. Martin Harrison has worked closely with Martin Donnachie for three years since joining the Company and played a pivotal role in its profitable growth. Prior to joining Fulcrum, he was Divisional Finance Director of Lafarge Tarmac Contracting from 2010 to 2014 with financial responsibility for the UK and Middle East markets. Previously he spent three years with KPMG, working on M&A and corporate restructuring, and eleven years with Saint Gobain/BPB plc.
To support the Company's continued growth strategy and operational expansion, Ian Foster has been appointed as Chief Operating Officer with effect from 1 August 2017. Ian has worked within the Fulcrum business for over 14 years and is a veteran with over 35 years within the UK utilities industry, having worked for British Gas and National Grid.
Hazel Griffiths, the Group Financial Controller, will succeed Martin Harrison and will take on the role of Chief Financial Officer on 1 August 2017 and will not be appointed to the Board at this stage.
Martin Donnachie commented “I am tremendously proud of what we have achieved at Fulcrum and would like to thank everyone who has helped to create the business we have today. The Company has consistently delivered on its promises over the past four years and we have a great team with a strong blend of experience and capability. I am delighted that Martin is succeeding me at such an exciting time in Fulcrum's development. My intention has always been to take the business through three stages of corporate development: turn-around, profitability and moving into growth. Now that this has been achieved, I am ready to leave the Company in the safe hands of the team.”
Phil Holder, Chairman, commented “I would like to pay tribute to Martin on behalf of our Board, our shareholders and employees, all of whom have prospered under his stewardship. Martin has overseen Fulcrum's transformation into a leading player in the utility services industry and we are enormously grateful to him for his leadership and consistent delivery of results. Furthermore, Martin leaves behind a strong and determined management team and committed employees, whom I fully expect to continue to grow and develop the business and deliver continued value for all its stakeholders.”