黑洞社区

Paul Drechsler was recently asked whether he had fallen in love with the construction industry after five years at the helm of Wates.

The 52-year-old chief executive joined the family-owned firm in September 2004 after 24 years with chemicals giant ICI. Last week he was crowned chief executive of the year at the 2009 黑洞社区 Awards.

鈥淚t鈥檚 a bit difficult for an Irishman to talk about his feelings like that,鈥� he joked.

Despite artfully avoiding the question, he still exudes a newcomer鈥檚 wonderment at the industry鈥檚 ability to change landscapes and lives.

Referring to Wates鈥� recent regeneration of a Glasgow tower block, he said: 鈥淚 remember driving up to it and realising just how much we had changed the community. It looked sexy compared to how it did two years ago. Sexy by builders, can you imagine that?鈥�

His silver tongue and sense of fun mean he is a more magnetic presence than many of his peers, but there is a steely restiveness behind the charisma. Some say his mind can appear to be in two places at once when you鈥檙e talking to him and he bounds quickly around the room at industry events. Few in the industry can charm as many people in such a short time.

He recently said that, after five years, he no longer feels like an outsider and thinks the industry can play an integral role in lifting the UK out of recession.

He said: 鈥淭his industry, more than any other, offers significant solutions to economic challenges by investing in building and infrastructure. Rational people see this as a great opportunity.鈥�

This industry, more than any other, offers solutions to our economic challenges

The problem the industry has in winning this argument, he says, is the poor job it does in selling itself to those in power. 鈥淲e need to communicate the scale of the opportunities. The money is there, it鈥檚 just about prioritisation 鈥� so the sooner the government has a high-quality chief construction officer in place the better.鈥�

Not that Wates has suffered as much as some. Under Drechsler鈥檚 leadership its turnover has risen from 拢631m to 拢1bn since 2004, while pre-tax profit has grown from 拢3.5m to 拢47.1m.

It has helped pushed the profit margin to 4.7%, which is about double the industry average. Before the credit crunch bit, he said: 鈥淢y aspiration is the magic 5% figure by 2012 at the latest. I passionately believe what we do is worth a lot more than 5%.鈥�

More importantly, the company has 拢170m in the bank. A year ago he talked about making the first acquisition in the company鈥檚 111-year history but has prudently put that move on the backburner.

He knows that one wrong move would scupper his ultimate goal 鈥� to hand over the company to the next generation of the Wates family in better shape than it is today. He says: 鈥淚t鈥檚 important there鈥檚 nothing hidden in the cupboard that will come out and bite us. The family loves the business and wants to be in it for the long term.鈥�

The Wates family has always been at pains to point out he has free rein at the company and most agree he has done a good job picking his way through the minefield of being an outsider running a family company.

Asked which member of the family will eventually take over, he turns on the humour again. 鈥淚 go to all the kids鈥� parties so I know the next generation has a significant number of feisty young ladies to run the company and there鈥檚 a good chance they鈥檒l be at the other end.鈥�