Bilfinger GVA chief executive Rob Bould has left the company less than a month before a decision is expected on its future ownership.
His departure was initiated by Bilfinger Real Estate.
Bould has been replaced with Gerry Hughes, who was previously national head of planning, development and regeneration and sits on the international board of Bilfinger Real Estate.
Bould, 62, who has been with the company for 40 years and chief executive for the past seven, has agreed a severance package and officially ended his tenure on Thursday afternoon. He will continue as a consultant.
He is expected to take up other non-executive positions and continue to play an active role at property industry charity LandAid, where he sits on the board.
Bould navigated the company through GVA’s takeover by Bilfinger in 2014, a deal which took the company out of the hands of private equity firm Lloyds Development Capital.
Bilfinger GVA, along with Bilfinger’s other property businesses, is being lined up for sale by its parent as a result of interest from third parties. The company has shortlisted four prospective parties, including private equity investors, to buy the businesses and a decision is expected before MIPIM. Private equity firm KKR and CBRE are not among those shortlisted.
Bould said: “It has been a privilege to lead the Bilfinger GVA business and I cannot imagine anywhere with such a great team of professionals… I wish my colleagues every possible success for the future.”
