Finance chief of Carillion departs amid firm shake-up
THE finance chief of infrastructure giant Carillion has parted with the company as it announced a raft of senior management changes in its battle for survival.
Carillion said that Zafar Khan has left with immediate effect and will be replaced by company stalwart Emma Mercer.
Ms Mercer was most recently finance director of Carillion’s UK construction arm, prior to which she was financial chief of Carillion Canada.
Restructuring expert Lee Watson has been appointed “chief transformation officer” on secondment from EY, while Andy Jones, currently president and chief executive of Carillion Canada, has been appointed chief operating officer and will take up his role on October 1.
In July, a shock profit warning saw a dramatic collapse in Carillion’s share price, wiping almost £600m from its stock market value.
Shortly after, chief executive Richard Howson stepped down with immediate effect as the group said it would need to bolster its balance sheet and was struggling to stay within its borrowing limits.
In July, the Belfast Telegraph reported that the Housing Executive here says it has “contingency arrangements” in place to deal with the potential collapse of the firm, which carries out contracts for the body worth £35m each year.