Mace restructures to observe corporate governance code

Mark Reynolds (left) and Jason Millet

Mace’s boardroom changes are designed to comply with the UK Corporate Governance code, aimed at companies listed on the London Stock Exchange. Privately held companies like Mace are under no obligations to observe the code; those that choose to do so often have at least half an eye on a future stock market listing.

Four non-executive directors will join Mark Reynolds, Jason Millett and chief financial officer David Allen on the new group board.

These non-executive directors will be Dame Alison Nimmo as senior independent director, Nina Bjornstad, Eric Hageman and John Coghlan.

Alison Nimmo is a former chief executive of The Crown Estate and is currently also lead non-executive director of the government’s Department for Levelling Up, Housing and Communities.

Nina Bjornstad has worked Dell, Amazon, Microsoft and Google. She is also a non-executive director of Swedish airline SAS and is on PwC’s UK advisory board.

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Eric Hageman is chief financial officer of Swedish telecommunications company Telia

John Coghlan, a former finance director of logistics company Exel who since retiring 18 years ago has been on the boards of Severn Trent, Clarion Housing Group and Associated British Ports as a non-executive director.

Over the last 12 months the quartet has already served as Mace’s advisory board.

Ahead of these changes, from July 2024, Davendra Dabasia will replace Jason Millet as chief executive of Mace Consult and Andrew Jackson will replace Gareth Lewis as chief executive of Mace Construct – the consulting and contracting sides of the business respectively.

Mark Reynolds, who is also the biggest shareholder in the business, 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.”

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