G4S: New CFO ready right away for succession to top role
21 May 2013
Beleaguered security and services group G4S had a ready-made successor to recruit to its top job after the resignation, announced today, of chief executive officer Nick Buckles.
Tue, 21 May 2013Beleaguered security and services group G4S had a ready-made successor to recruit to its top job after the resignation, announced today, of chief executive officer Nick Buckles.
This follows months of high-profile travails at the firm since it ran into significant trouble with recruitment to fulfil its contract for last year’s Olympic and Paralympic Games in London.
Buckles will be succeeded by Ashley Almanza, who joined the group just three weeks ago in the role of chief financial officer – and was earmarked for the top role. He steps into Buckles’ shoes on 1 June.
The company says in a statement that in its “extensive search for the new CFO”, which saw it look internally and externally, “the board sought candidates with the experience and capabilities which would enable them take on the CEO role as part of the group’s succession planning processes”.
Almanza joined G4S having held a number of senior executive roles at natural gas firm BG Group from 1993 to 2012.
Stuart Curl, the group’s regional CFO for the UK, Ireland and Africa, has been appointed acting CFO while a search for a new CFO is conducted.
The firm has also appointed a new COO, Eddie Aston, who joins from logistics firm Deutsche Post DHL. This is a role created following the Olympic review.
In August 2012, following the Olympic Games, the company said it had lost £50m as a result of the games, although this was little more than a blip in its broader finances, having seen turnover grow by £273m, nudging towards £4bn, in the first half of 2012.
Chair John Connolly says that during more than 28 years with the group, the past eight as CEO, Buckles “led G4S in the creation of significant shareholder value following the merger of Securicor and Group 4 Falck”. Buckles says he will not stand for re-election as a director at the company’s 6 June AGM.
This follows months of high-profile travails at the firm since it ran into significant trouble with recruitment to fulfil its contract for last year’s Olympic and Paralympic Games in London.
Buckles will be succeeded by Ashley Almanza, who joined the group just three weeks ago in the role of chief financial officer – and was earmarked for the top role. He steps into Buckles’ shoes on 1 June.
The company says in a statement that in its “extensive search for the new CFO”, which saw it look internally and externally, “the board sought candidates with the experience and capabilities which would enable them take on the CEO role as part of the group’s succession planning processes”.
Almanza joined G4S having held a number of senior executive roles at natural gas firm BG Group from 1993 to 2012.
Stuart Curl, the group’s regional CFO for the UK, Ireland and Africa, has been appointed acting CFO while a search for a new CFO is conducted.
The firm has also appointed a new COO, Eddie Aston, who joins from logistics firm Deutsche Post DHL. This is a role created following the Olympic review.
In August 2012, following the Olympic Games, the company said it had lost £50m as a result of the games, although this was little more than a blip in its broader finances, having seen turnover grow by £273m, nudging towards £4bn, in the first half of 2012.
Chair John Connolly says that during more than 28 years with the group, the past eight as CEO, Buckles “led G4S in the creation of significant shareholder value following the merger of Securicor and Group 4 Falck”. Buckles says he will not stand for re-election as a director at the company’s 6 June AGM.
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