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11/09/2017
Carillion Restructures Corporate Management Team
Carillion has restructured its management board after the company issued a surprise profit warning in July.
Following a business review earlier this year with accountants KPMG, £845 million was set aside to help cover losses on problem construction contracts.
In a statement today, 11 September, Carillion revealed Group Finance Director Zafar Khan has left the company "with immediate effect" less than nine months in the job.
In addition, Richard Howson, Chief Operating Officer, Adam Green, Managing Director Carillion Construction Services and Nigel Taylor, Managing Director Carillion Services, will also leave the company at the end of the month. Shaun Carter, Group Strategy Director, will be leaving the Company by the end of the year.
Replacing Mr Khan is Emma Mercer. She joined the company in 2008 and has held several senior positions, most recently Finance Director of the UK construction business. Prior to this, she was Chief Financial Officer and Senior Vice President of Carillion Canada.
In addition, Lee Watson has been appointed Chief Transformation Officer on secondment from Ernst & Young LLP ('EY'). Mr Watson has been a Partner at EY since 2008 during which time he has advised on numerous transformations and restructurings for UK companies.
Finally, Carillion's President and Chief Executive has been appointed Chief Operating Officer and will take up this role on 1 October 2017.
(LM)
Following a business review earlier this year with accountants KPMG, £845 million was set aside to help cover losses on problem construction contracts.
In a statement today, 11 September, Carillion revealed Group Finance Director Zafar Khan has left the company "with immediate effect" less than nine months in the job.
In addition, Richard Howson, Chief Operating Officer, Adam Green, Managing Director Carillion Construction Services and Nigel Taylor, Managing Director Carillion Services, will also leave the company at the end of the month. Shaun Carter, Group Strategy Director, will be leaving the Company by the end of the year.
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Replacing Mr Khan is Emma Mercer. She joined the company in 2008 and has held several senior positions, most recently Finance Director of the UK construction business. Prior to this, she was Chief Financial Officer and Senior Vice President of Carillion Canada.
In addition, Lee Watson has been appointed Chief Transformation Officer on secondment from Ernst & Young LLP ('EY'). Mr Watson has been a Partner at EY since 2008 during which time he has advised on numerous transformations and restructurings for UK companies.
Finally, Carillion's President and Chief Executive has been appointed Chief Operating Officer and will take up this role on 1 October 2017.
(LM)
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