Mitie names former Virgin Active boss as finance chief
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