22nd Aug 2018 08:36
LONDON (Alliance News) - Capita PLC on Wednesday confirmed that Go-Ahead Group PLC's Chief Financial Officer Patrick Butcher will join the outsourcer in the same role at the end of the year.
FTSE 250-listed transport operator Go-Ahead said it has already begun a process to appoint a successor.
"I'd like to thank Patrick for his support during some challenging years in the transport industry," said Go-Ahead Chief Executive David Brown.
"His role in developing our international pipeline and our future of transport projects leaves the group in a stronger position to meet the changing needs of our customers and colleagues," added Brown.
Butcher - who has been with Go-Ahead For two years - will replace Capita's outgoing Chief Financial Officer Nick Greatorex, who will step down and leave the company at the end of September.
"Patrick is joining Capita at an exciting time," said Capita CEO Jonathan Lewis. "We have de-levered the balance sheet, disposed of non-core assets, started to reduce costs and invest in the business."
Lewis continued: "We are looking forward to adding Patrick's new perspective, energy and experience to support the good start we have made with our transformation programme and new strategy, delivering the commitments we have made to all our stakeholders."
Sky News first reported the executive change late on Tuesday. Sky said that Capita, which was demoted from the FTSE 100 index last year following a string of profit warnings, is seeking to accelerate its restructuring programme.
Shares in Go-Ahead were flat early Wednesday at 1,610.00 pence each, while Capita shares were down 0.1% at 142.75p.
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