NG Bailey will begin the hunt for a permanent replacement for former chief executive Mark Andrews in the new year

Chris Newton, the former finance director and acting chief executive, said he would like the job on a permanent basis, but said the 拢600m-turnover company, which is controlled by the Bailey family, would go through a formal recruitment process.

He said: 鈥淭he family will go to the market to find the best person for the job. I鈥檇 be an idiot not to want it, but I鈥檇 far rather be tested against the market and achieve a formal appointment.鈥

Chris Newton
Chris Newton

Newton refused to be drawn on who might apply for the job, but reiterated denials by the company that Andrews鈥 exit was prompted by a cost-cutting drive or linked to last year鈥檚 拢10.8m pre-tax loss. He admitted the Bailey family was 鈥渄isappointed鈥 by the result but added: 鈥淭his handover had been prepared for for months. Mark and I still talk regularly and he has been enormously helpful to me.鈥

Andrews left without lining up a new role, which Newton said gave him 鈥渢ime to think about what he鈥檒l do next鈥.

Setting out his plans should he land the job, Newton said there would be no radical departures from the past but the company needed 鈥渇ine tuning鈥 to get through the recession.

He said: 鈥淲e have made the business more customer facing and will become more involved in front-end design, an area in which you have to prove your credentials.鈥

He said there was scope to make bolt-on acquisitions but there was no pressure to grow the top line of the business. 鈥淭here are no obvious holes that need filling, but we'd add expertise if there was a demand for it,鈥 he said.

Newton also spoke of his sense of frustration over the current state of limbo in the run-up to a general election. He added: 鈥淐onstruction is a sensible place to put money. It鈥檚 for all to see any Tory government would cut spending sooner than Labour.鈥

Chris Newton鈥檚 CV

1978: graduated in civil engineering from Imperial College, London

1978鈥1986: financial accountant, assistant to group managing director and assistant to president at Tate & Lyle

1986鈥1991: president of Technostaal and managing director of Milltech

1991鈥1996:&苍产蝉辫;business development manager and finance and planning director at Tate & Lyle,

1995鈥1998: managing director of Odessa sugar company

1998: finance director at DePuy International

1999鈥2002: managing director of Britspace Modular Systems

2002鈥2009: finance director at NG Bailey group