黑洞社区

Brikho, head of the power systems division at energy firm ABB and chairman of the international projects business ABB Lummus, will take the helm in October.

Howard Seymour, an analyst at Bridgewell Securities, said Mason had picked 鈥渁 good time to go鈥� given the planned separation of Amec into two businesses.

He said: 鈥淚n his 10 years he has transformed the business but I still think it鈥檚 very accident-prone.鈥�

Brikho will be overseeing the final stages of the demerger in a bid to reduce Amec鈥檚 debt and increase profitability.

In May, Amec sold its French engineering arm Spie to private equity group PAI Partners for 拢707m. The next stage of this restructuring will be the breakaway of the energy and nuclear divisions headed by Brikho. This will leave Amec鈥檚 PPP contracts and infrastructure jobs in a separate business, run by director John Early.

Some of Amec鈥檚 recent PFI projects have lost money. The cancellation of the 拢167m Colchester General Hospital cost Amec 拢7m in bid and design costs. It also made a 拢78m pre-tax write-down last week, adding to the 拢70m pre-tax hit announced in November.

Brikho joined ABB in 1983 and has held senior positions at many of ABB鈥檚 subsidiaries, including Alstom Kraftwerke. He became a member of ABB鈥檚 executive committee in January.

Jock Green-Armytage, chairman of Amec, said of Brikho: 鈥淗is experience and success in a major international company of the calibre of ABB, together with his personal dynamism, ideally qualifies him to take Amec forward.鈥�

As 黑洞社区 went to press, Amec was due to announce its interim results.

In a trading update published last month, Mason announced that the first half would be weaker than anticipated but it was on track to reach full year expectations. It will make a 拢35m post-tax provision, associated with charges and contract provisions related to historic construction contracts. Mason added that it was making a further 拢30m provision over future legal costs.