Danny McCance 13 Nov 2018 11:00am

Wates Group appoints new CFO

Philip Wainwright will join the board and executive committee of the family-owned construction group as chief financial officer on 3 December

Wainwright, who for the past three years has been group finance director at property builder Wilmott Dixon, will take over from Rob Holdsworth, who has served as interim CFO since November last year.

“I know Wates as an industry leading business, with an amazing heritage, a fantastic family ethos, and really exciting plans for the future, which are supported by one of the strongest financial track records in our sector,” Wainwright said.

Following a career change from engineering, Wainwright qualified as a chartered accountant with EY, later going on to hold various financial and management roles at construction businesses Byrne Group and Laing O’Rourke, water treatment business Biwater, National Grid and agricultural merchant ED&F Man.

In September, ICAEW stated that the six principles designed by Wates Group chairman Sir James Wates and the Coalition Group failed to meet its stated aim of ensuring high standards of corporate governance among large private companies.

In January, Sir James was appointed to lead the government-backed industry coalition group, the focus of which was to develop guiding principles for large private companies.