Yahoo Finance Capita's finance director steps down
Capita’s finance director Nick Greatorex, who briefly led the company at the end of last year, is to step down from his role.
The outsourcer announced on Wednesday that Mr Greatorex will leave later this year following a transition period with his successor.
A search for a new finance director is underway, the company said, and the appointment is expected to be announced in the coming weeks.
He has worked for Capita since 2006 and was appointed finance director in March 2015. Last year he took home £504,432 in pay and bonuses, according to the company’s annual report.
Jon Lewis, Capita’s chief executive, said Mr Greatorex had made a “significant contribution” during “a period of change” for the business.
Mr Greatorex stepped up to become Capita’s interim chief executive in September last year after previous boss Andy Parker departed, and before Mr Lewis took up the post at the end of November.
Mr Parker had resigned amid dire falls in profits at the business, admitting that the company had made some “own goals” which had contributed to its troubles.
It is understood that Mr Lewis now wants to appoint his own finance director as he ramps up the transformation programme at the company. He announced in April he planned to raise around £1bn through a rights issue and selling parts of the business in a bid to curb its falling profits.
He is due to update shareholders on its progress on Aug 1.
