Andrew Davies is to begin work in his new position as chief executive officer at Carillion earlier than expected after an agreement was reached with Wates Group.

Carillion announced the appointment of Mr Davies back in October, though his start date was set as April 2 next year due to his contractual ties to Wates.

The Wates Board has now agreed to allow Mr Davies to assume his appointment with effect from January 22, at which point he will also join the Carillion Board.

Keith Cochrane will step down from his role as interim chief executive officer, and from the Board, on that date but will remain with Carillion in an advisory capacity for a period thereafter in order to ensure an orderly transition.

Carillion chairman Philip Green, said: “We are very grateful to the Board of Wates Group Ltd, and to James Wates CBE, their chairman, for their facilitation of Andrew’s earlier appointment. It is a demonstration of how the sector is willing to cooperate and collaborate to ensure the long term sustainability of UK industry.

“As I said when we announced his appointment, Andrew has the ideal combination of commerciality, operational expertise and relevant sector experience to build on the conclusions of the strategic review and to lead the on-going transformation of the business, and I look forward to his bringing that experience and expertise to Carillion in the New Year.”

Andrew Davies was appointed chief executive of Wates Group in 2014. Before that he held a series of senior roles with BAE Systems over 28 years.