Ex-Barratt CEO Clare to take chair at Aggreko

Mark Clare

Mark Clare: joins board

Temporary power generator Aggreko has appointed former Barratt Developments CEO Mark Clare as a non-executive director and chairman designate.

He will take the chair following the 2021 Annual General Meeting from the current chairman, Ken Hanna.

Mr Clare is currently chairman of Grainger, senior independent director of United Utilities Group and a non-executive director of Premier Marina Holdings.

He was also senior independent director of Ladbrokes Coral Group from 2016-2018 and a non-executive director of BAA from 2001-2006. He was chief executive of Barratt Developments from 2006-2015. Prior to joining Barratt, he held a number of senior roles within Centrica and British Gas.

He will join Aggreko’s nomination, remuneration and ethics & corporate responsibility committees.

The company’s shares came under selling pressure after it said it expected 2020 profits to at least halve.

It indicated it is confident it can deliver profit before tax (excluding exceptional items) for 2020 of between £80m and £100m, which compares with. £199m last time.

On the plus side, the company, which suspended dividend payments back in March, confirmed it would pay an interim dividend of 5p in respect of 2020.

Underlying profit before tax for the half year was £47m against £60m the year before.

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