Dave Smith takes the seat of Alison Littley, who steps down after three years on the group board.
Where Alison Littley brought commercial experience to Osborne from her earlier career with Mars and Diageo, Dave Smith’s experience is all in construction. His previous roles include chief operating officer at Wates and managing director positions at McClaren and Balfour Beatty.
“With over 40 years in construction, Dave has been instrumental in building and leading successful privately owned and plc’s businesses,” said chairman Andrew Osborne. “Dave brings a wealth of professional experience including leading award-winning corporate responsibility and sustainability programmes.”
The appointment of Dave Smith came as Geoffrey Osborne filed its accounts for the 18 months to 30th September 2020. These showed a a pre-tax loss of £13.8m on turnover of £551.2m.
Total net assets decreased to £8.6m, down from £19.3m at the end of March 2019, while the cash balance dropped from £23.5m to £13.0m over the same period.
Last month Osborne sold its profit-making civil engineering business, Osborne Infrastructure Ltd (OIL), to London private equity firm Sullivan Street for an (as yet) undisclosed sum.
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