part time job

Ferrovial’s new CEO takes charge

Ignacio Madridejos has taken over as chief executive of Ferrovial’s worldwide operations.

Mr Madridejos replaces Íñigo Meirás, who had led the global construction and infrastructure operating company since October 2009.

Ferrovial first revealed that an agreement had been reached for Mr Madridejos to join the company in August.

Chairman Rafael de Pino said Mr Madridejos, who joins after serving as president of Cemex USA, has the “technical and economic” experience to lead the company during “a time of change”.

In late 2018, Ferrovial put its construction services business, which mainly carries out maintenance and facilities management in various countries, up for sale.

Amey was initially included with the wider services division, but Ferrovial has been forced to try and sell it as a separate entity following huge losses sparked by a ruinous PFI road maintenance contract with Birmingham City Council.

In its accounts for the year ending 31 December 2018, Amey reported a £428m loss as it slashed the values of its different divisions and made a £123m provision on the PFI job.

In 2017 the company suffered a £189.9m pre-tax loss and made a £208.5m provision for the PFI contract.

Once its services division is sold, Ferrovial will focus on its infrastructure construction, airport and concession businesses.

Ferrovial’s subsidiary Cintra was part of the consortium that won the contract to deliver the £1bn Silvertown Tunnel in May. But the awarding of the contract was suspended in August after another bidder launched a legal challenge against the procurement process.

Ferrovial also bid for the contract to build HS2’s Euston station in a joint venture with Bam Nuttall. But it lost out to a bid from a Mace / Dragados JV.

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