Turner & Townsend has changed its structure and become a public company as part of its continuing efforts to float on the stock exchange.

Under the new structure, Vince Clancy becomes chief executive officer and Tom Harrison is chief operating officer.

Gordon Horsfield, a former chairman of power station operator Drax, joins the company as a non-executive director. He is also chairman of Partnerships UK.

Dave Belmont has been recruited to fill the newly created post of company secretary. He was previously company secretary with financial management group CODA.

In an internal memo seen by Building, chairman Tim Wray said: “The incorporation process is in alignment with our strategy to list on the stock exchange as soon as the market improves.”