Shake-up at Carillion sees departure of leading directors
A major management shake-up at troubled construction services group, Carillion has seen the departure from the business of several senior directors.
Group Finance Director Zafar Khan has left the Wolverhampton-based company with immediate effect and a raft of other senior executives – including former CEO Richard Howson – will follow him out of the door at the end of the month.
The departures mark the latest phase of the beleaguered business’ restructuring, implemented in the wake of a devastating profits warning in July that saw 70% of the group’s market value wiped out, culminating in the group’s relegation from the FTSE 250.
Mr Howson’s resignation as CEO followed July’s announcement, although the company said at the time that he would be staying with the group for anything up to a year.
However, his tenure as Chief Operating Officer has now been terminated and he will leave the company on September 30.
Joining him will be Adam Green, Managing Director Carillion Construction Services and Nigel Taylor, Managing Director Carillion Services. Shaun Carter, Group Strategy Director, will be leaving the company by the end of the year.
These follow the earlier departure of Mark Nicholson, who has served as Carillion’s Managing Director – Building (Scotland, North, Midlands/South West) for the past decade. He has been appointed in the Chief Executive Officer of Bolton-based Forrest.
The latest departures were confirmed in a statement to the markets this morning.
The statement also said that Emma Mercer had been appointed Chief Financial Officer with immediate effect. Since joining Carillion in 2008, she has held several senior positions, most recently Finance Director of the UK construction business prior to which she was Chief Financial Officer and Senior Vice President of Carillion Canada.
Lee Watson, currently on secondment to the business from EY to assist with its strategic review, has been appointed Chief Transformation Officer. Mr Watson has been a Partner at EY since 2008 during which time he has advised on numerous transformations and restructurings for UK companies. His appointment is effective immediately.
Andy Jones, currently President and Chief Executive of Carillion Canada, has been appointed Chief Operating Officer and will take up this role on October 1, 2017.
