Age: 45
Position: Chief executive, Mears
Salary: £230,000
Taking over the reins from Bob Holt as the chief executive of Mears must have been a daunting task. The social housing repairs business had been a darling of the City since Mr Holt floated the group in 1996, growing revenues from £12 million to £470 million, and the last executive who tried to replace him lasted just two years before investors called for his return.
However, it was so far so good for David Miles yesterday, reporting the first set of annual results during which he has been chief executive throughout the year. Sales rose 12 per cent to £589 million in the year to December 31, pre-tax profits jumped almost 26 per cent to £20.6 million, and the dividend was increased by 11 per cent to 7.5p per share. Its order book stands at £2.9 billion, with a bid pipeline in excess of £3 billion. The group’s performance has been driven by contract wins, including a ten-year deal with Barnet Homes, worth £69 million, to repair, maintain and clean more than 11,000 properties. Its domiciliary care business has also secured more work. Mr Miles partly attributed its ability to win more contracts to improvements in how it bids for new work.
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Mears, which employs more than 11,000, has also benefited from the collapse of rivals Connaught and Rok.
Mr Miles, an electrical engineer, joined Mears in 1996. He joined the board in 2007, when Mr Holt, now chairman, made him chief operating officer. Outside of work he is a keen Charlton Athletic fan.