Mace: HS2 London Euston contractor boss to step down in top brass shake-up
Mace, the construction firm contracted to deliver London’s HS2 Euston terminus, has announced a new chief executive alongside a raft of top-level changes.
Mark Reynolds will step down from his position after more than a decade in the role, to be replaced by deputy chief Jason Millet in January.
Reynolds will keep his position as Chairman as part of a change in company structure, with the role previously held by every Mace boss.
The changes come alongside a host of switch-ups in the HS2 contractor‘s divisional leadership. Mace is planning to appoint Davendra Dabasia and Andrew Jackson as chief executives for each of its Engines, Consult and Construct segments.
Veteran Gareth Lewis, the current head of Construct, will step down from his role and position on the Mace board in July.
Four new non-executive directors will be appointed in January 2025; former Crown Estate chief Dame Alison Nimmo DBE, Nina Bjornstard from Telenor, Erec Hagement and John Coghlan, a former board member at Severn Trent, Clarion and Associated British Ports.
The long-planned succession builds on several years of growth in Mace’s consultancy and construction business.
Alongside the leadership changes, Mace also unveiled plans to double the size of its global consulting business to more than £1.2bn revenue by 2030.
The construction giant operates in the UK and Europe, Middle East and Africa, the Americas and the Asia Pacific regions. It has delivered major projects including the Hudson Tunnel in New York, Battersea Power Station in London and One Za’beel in Dubai.
Mark Reynolds, Mace Group chair and chief executive officer, said: “Mace is now a truly global force; and our success over the past few years securing some of the world’s largest programmes reflects that. With scale comes responsibility, and we must ensure we are governed effectively. These long-planned succession changes are a part of that process.
“After 12 years leading Mace, and a decade of working alongside Jason, I couldn’t be more pleased to see him step into the Group Chief Executive role. He, Davendra and Andrew will shape the next decade of Mace’s journey, and I have absolute confidence that they will continue our phenomenal growth.
Jason Millett, Mace Group deputy chief, said: “I am honoured to have been named the next Chief Executive of Mace – it’s an exciting opportunity to build on everything we have achieved as a company over the last three decades.
“Our combined consultancy and construction expertise is a unique combination that enables us to deliver some of the most complex and challenging projects around the world on behalf of our clients; and I can’t wait to work with the new board, the group executive committee and all of the brilliant teams across Mace as we bring together our vision for the next ten years of success.”
The news comes after reports in the Financial Times on Wednesday that more than a billion in taxpayer cash will be used to fund a critical Central London tunnel linking HS2 to Euston.
The government was looking to bring in private money to build the tunnel but Reynolds told City PM in November the proposals Mace had suggested had fallen into a “black hole.”