G4S, the international security solutions supplier, has lined up John Connolly, the chairman of consultant engineer AMEC, to be its next Chairman to replace Alf Duch-Pedersen, who recently announced his impending retirement.
Duch-Pedersen will step down after G4S's annual general meeting on June 7th. In the meantime, Connolly will sit on the board as an independent non-executive director.
Alf Duch-Pedersen said: "I am very pleased that John has agreed to join the board as my successor - he has extensive experience of working in a global business environment and in sectors which are of strategic importance to the group."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Until May 2011 Connolly had spent his entire career with Deloitte, the audit, tax, consulting and corporate finance services giant. He was Global Chairman of Deloitte from 2007 until 2011. He has been chairman of AMEC since June 2011.
"There are many opportunities for the group to expand its geographic presence and to maximise the potential for outsourced services across its key sectors. I am looking forward to becoming part of the G4S team and playing my part in its ongoing development," Connolly said.
The share price declined 0.73% to 273.40p by 13:25.
NR
-
Parental contributions to kids' university living costs could reach £14,000 a yearParents helping kids with university living costs face contributions of up to £14,000 per year, according to a report from HEPI and TechnologyOne.
-
Rightmove: property asking prices hit record highNews Rising demand for top of the ladder home is boosting asking prices, Rightmove research shows. Is now a good time to sell a property?
