Terra Firma chief resigns

THE chief executive of buyout firm Terra Firma has left after allegedly falling out with its billionaire founder Guy Hands.

Andrew Geczy, who joined in 2016, stepped down on Thursday.

A memo to staff said his departure was effective immediately but did not explain why he left. Geczy is said to have been at loggerheads with Hands over how Terra Firma is run.

His departure will be a blow to Hands, who has suffered a fall from grace of late, with investments such as care home Four Seasons falling into difficulty.

He was also involved in a court bust-up with record label EMI, where he once was chairman. Hands, 59, made his name as a dealmaker while working at Japanese bank Nomura.