3rd Nov 2005 07:02
Compass Group PLC03 November 2005 3 November 2005 Compass Group PLC UN Investigation Update On 21st October the Company announced that it had instructed Freshfields toconduct an investigation into the relationships between ESS, IHC and the UnitedNations. Ernst & Young are assisting Freshfields in this investigation. Theinvestigation, which is continuing, is being overseen by Steve Lucas, Chairmanof Compass's Audit Committee. The investigation has raised serious concerns as to whether, within ESS, therehas been, in connection with IHC and the UN, improper conduct and a failure tocomply with the Company's statement of business principles (which apply to allstaff, whatever their seniority). As a result, Peter Harris, whose suspensionwas announced on 21 October, is being dismissed, together with Andrew Seiwertand a further mid-ranking executive who was associated with UN contracting. Themanagement of ESS is being restructured. Compass will be continuing to cooperate voluntarily and fully as appropriatewith the UN and US authorities, including the Office of the United StatesAttorney for the Southern District of New York. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Compass Group