Two CEOs Depart Amid Board Differences

摘要

CEOs of Dutch-based engineering giant Arcadis NV and large Minneapolis building contractor Adolph & Peterson Construction exited their firms last month in apparent corporate strategy disputes with their respective boards of directors. Arcadis on Oct. 27 announced the departure of Neil McArthur "because of a difference of opinion" with the firm's supervisory board. While he was firm chief, since 2012, Arcadis grew into a company of more than $3.7 billion in revenue and 27,000 global employees, Chairman Niek Hoek said, "It is the right time for a new leader." The board named Chief Financial Officer Renier Vree interim CEO while it seeks a permanent replacement among internal and external candidates. The change comes as Arcadis posted third-quarter results last month, with revenue down 7%, to $868 million, and earnings off by about a third, to $42 million. The firm partly attributed the falloff to the weaker British pound following the June Brexit vote, continued difficulties in Brazil and intense competition in North America, says U.K.-industry publication Building.