Fi­nance chief of Car­il­lion de­parts amid firm shake-up

Belfast Telegraph - Business Telegraph - - Analysis & Company Report - BY STAFF RE­PORTER

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.

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