Rob van Wingerden is to leave Dutch contactor BAM after five-and-a-half years as chief executive, the company announced today.
In 2018, the group recorded a profit of €24m, following a loss of €14m in 2018. However, it made a net loss of €52m in the first half of 2019, which it blamed principally on higher costs on German projects.
Van Wingerden has been with BAM since 1988, joining the board in 2012 and becoming chief executive in 2014. He will also leave the board of directors.
Harrie Noy, chairman of the supervisory board, said in a statement. "Rob has led BAM in turbulent times. After more than 30 years of loyal commitment to BAM, we can only be grateful for Rob’s contribution, vision and leadership."
Van Wingerden commented in the same statement: "After almost six years as chief executive, and with the prospect of an updated strategy ahead, this is now a logical moment to change leadership. I am proud of what we have achieved with the One BAM programme as this enables us to leverage the scale of our company and the knowledge of our people. Being a frontrunner in digitisation and sustainability, BAM holds enormous potential, now and in the future."
He will receive a severance payment equal to a year’s base salary.
Van Wingerden will hand over on 15 April after its annual shareholders meeting. Until a successor is found, financial director Frans den Houter will take over his duties.
When Van Wingerden took over the firm, it had just announced a €68m loss on a civil engineering project in the UK. He was responsible for implementing the "Back in Shape" rescue plan. This sought to cut €100m in costs, and involved 650 job losses in the Netherlands and Belgium in his first week.
BAM will present its 2019 annual results on Friday, 21 February.
Image: Rob van Wingerden (BAM)