Serverfield Rowen, UK’s leading structural steelwork fabricator is facing further shares drop after the structural steel group announced changes of its senior management.
It’s said that the UK business has suffering and continued with price pressure and significant challenges as clients and the supply chain compete harder in a shrinking market.
As a result the board intends to review expeditiously its current contract base and will provide a further update to the markets when it has greater clarity on the financial impact of this exercise.
The group said that it has concluded that a change to the leadership and reestablish confidence with all stakeholders accordingly. . Mr. Tom Haughey, chief executive is standing down from the role and Mr. John Dodds chairman will assume the role of Executive Chairman with immediate effect.
