Board Change

RNS Number : 1454X
Serco Group PLC
17 November 2014
 

 

Serco: Board Change

 

17 November 2014

 

Serco Group plc (Serco), the international service company, today announces that Chairman, Alastair Lyons, has informed the Board of his intention to step down once a new Chairman has been appointed.

Alastair Lyons, Chairman, said: "Since the events of last year I have sought to stabilize Serco with strong new management and non-executive directors; a much improved relationship with the UK Government; and clarity as to our strategic direction.

"The Contract and Balance Sheet Review, the reassessment of the Group's future prospects, and the creation of the right capital structure are all necessary steps in putting Serco back onto an even keel and giving our new management team the basis for taking the company forward again.

"The initial findings of the Strategy and Balance Sheet Review point to strategic and operational mis-steps at Serco for which, as Chairman of the board since 2010, I take ultimate responsibility. It is also the right thing for Serco to select a new Chairman, to take the helm for the future.

"Whilst colleagues have asked me not to resign, it has been my intention to step down once a new strategy and direction for the business were in place. I am, therefore, taking the necessary steps to ensure an orderly process for my own succession during the first half of 2015."

Rupert Soames, Group Chief Executive Officer, said: "Whilst I respect Alastair's decision, I want to put on record the fact that he has done an outstanding job stewarding the Company through the travails of the last twelve months.  Nobody could have worked harder or done more to get us to the point where we can now concentrate on building a solid future for Serco."

 

 

Ends

 

For further information please contact Serco:

Stuart Ford, Head of Investor Relations T +44 (0) 1256 386 227

Marcus De Ville, Head of Media Relations T +44 (0) 1256 386 226

 

 

 

 

 

About Serco

Serco is an international service company, which combines commercial know-how with a deep public service ethos.

Around the world, we improve essential services by managing people, processes, technology and assets more effectively.  We advise policy makers, design innovative solutions, integrate systems and - most of all - deliver to the public.

Serco supports governments, agencies and companies who seek a trusted partner with a solid track record of providing assured service excellence.  Our people offer operational, management and consulting expertise in the aviation, BPO, defence, education, environmental services, facilities management, health, home affairs, information and communications technology, knowledge services, local government, science and nuclear, transport, welfare to work and the commercial sectors.

More information can be found at www.serco.com


This information is provided by RNS
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