Mi­tie names for­mer Vir­gin Ac­tive boss as fi­nance chief

The Daily Telegraph - Business - - Business - By Rhi­an­non Bury

OUT­SOURC­ING com­pany Mi­tie has named the for­mer chief ex­ec­u­tive of Vir­gin Ac­tive as its new fi­nan­cial di­rec­tor with im­me­di­ate ef­fect.

Paul Woolf will re­place cur­rent chief fi­nan­cial of­fi­cer Sandip Ma­ha­jan, who is re­main­ing with Mi­tie but un­der a new role as chief fi­nan­cial trans­for­ma­tion of­fi­cer and is also step­ping down from the board. Mr Woolf spent three and a half years head­ing Vir­gin Ac­tive Health Clubs be­fore his de­par­ture in Fe­bru­ary, amid a re­vamp of the firm’s se­nior man­age­ment team.

In his new role at Mi­tie he will re­port to chief ex­ec­u­tive Phil Bent­ley, who has been in the post since De­cem­ber last year and is over­see­ing a trans­for­ma­tion of the busi­ness. Mi­tie pro­vides fa­cil­i­ties man­age­ment and con­sul­tancy ser­vices to a wide range of com­pa­nies, in­clud­ing su­per­mar­kets, hospi­tals and air­ports.

Mr Woolf is the third per­son to hold the role of fi­nance di­rec­tor since Fe­bru­ary: be­fore Mr Ma­ha­jan took on the role, the po­si­tion was held by Suzanne Bax­ter, who an­nounced she would be step­ping down at the start of the year.

Since Mr Bent­ley took the helm he has over­seen a wide-rang­ing over­haul of Mi­tie’s sys­tems, in­clud­ing its ac­counts, af­ter three profit warn­ings in the space of four months.

He has re­cently an­nounced plans to cut 480 jobs by the end of the fi­nan­cial year, and is also in the process of sell­ing its prop­erty man­age­ment busi­ness as he seeks to stream­line the firm.

Mr Bent­ley said Mr Ma­ha­jan had been “in­valu­able” to Mi­tie’s turn­around and that he would be over­see­ing “the up­grade of our group-wide fi­nance func­tion from a sys­tems, gov­er­nance and peo­ple per­spec­tive” in his new role.

He added that Mr Woof ’s skills “will be of im­mense value to the group”.

Shares in the firm fell 4.3pc to close at 226.6p.

Paul Woolf, the for­mer chief ex­ec­u­tive of Vir­gin Ac­tive, will take up his new role im­me­di­ately

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