 Amid concerns about Kier's future, the company was dropped from two major development schemes, in Leeds and London.In a trading update on 1 August 2019, Kier said average month-end net debt for the 2019 financial year was £422 million, with revenues £100m lower, and, after significant interest in its housing division, said it had started the sale process (Guy Hands' Terra Firma Capital Partners was later reported to be among the bidders to acquire Kier Living).It also announced the appointment of a new CFO, Simon Kesterton (adept at "the disposal of non-core assets, the reduction of overheads and cost control"), with effect from 19 September 2019.