Algeco appoints new CEO

Modular space rental specialist Algeco Group has announced the appointment of Mark Higson as its new CEO, following Andrew Tyler’s departure from the role in November 2019.

Higson will assume his new position on 1 February 2020.

Commenting on the appointment, Mike Smith, Chairman of Algeco, said, “I am delighted to announce the appointment of Mark as our new CEO.

“Mark is a highly experienced operational leader with a proven track record, having spent much of his career running a range of large UK and international branch-based businesses.

“He has demonstrated strong management skills and the strategic insights that we believe will build on the strengths of our business today and lead Algeco through its next phase of growth.”

Mark is currently Managing Director of Wolseley UK, a leading plumbing, heating and cooling trade specialist merchant with 550 branches across the UK.

Before joining Wolseley in March 2018, Mark was Managing Director at the Royal Mail from 2007 to 2014, where he managed the operational turnaround of the letters and parcels business.

Prior to this, Mark was a Director of building materials group BPB plc, where he held a variety of senior leadership positions in businesses in Europe, Africa and the Middle East.

He has also worked with Advent International, advising on a variety of the private equity firm’s portfolio businesses.

Higson said, “Algeco is a great company with very exciting prospects. The business is in strong health today thanks to the transformative actions that have taken place over recent years and I look forward to getting started and delivering value for customers, returns to investors and great opportunities for our people.”

Headquartered in London, Algeco has operations in 22 countries with approximately 240,000 modular space and portable storage units and 3,400 remote accommodation rooms.

Under Mark’s leadership, Algeco will focus on its priorities for driving profitability across the business through effective capital investment, optimising sales and granular management of branch level performance, an efficient cost base, and a targeted acquisition strategy