The Briton was previously CEO of privately held construction services company Wates Group Ltd from 2014 to 2018. "He has good operational experience in the industry. So from that point of view, it seems a sensible and obvious choice," Canaccord Genuity analyst Aynsley Lammin said. The market would be keen to see Davies' clarify his strategy, including his plans for Kier's cost savings program launched in 2018, Lammin added. Shares in Kier Group fell more than 16 percent on March 11 after it disclosed an accounting error that pushed up its debt for 2018. Investors have become increasingly nervous about outsourcing and construction markets in Britain following the collapse of Carillion early last year and Interserve being placed into administration last week. Kier shares, which have lost more than 75 percent since their peak of more than 2000 pence in 2007, rose 2 percent to 493.8 pence at 1015 GMT. They were among the top gainers on the UK midcap index.