Struggling Mouchel appoints new chairman
Mouchel Group, the distressed public sector consultancy, has appointed a new chairman as it seeks to recover from an horrific year during which its stock price has dropped 90%.
Mouchel Group, the distressed public sector consultancy, has appointed a new chairman as it seeks to recover from an horrific year during which its stock price has dropped 90%.
David Shearer, currently the deputy chairman at New Dawn Investment Trust and a non-executive director at several other firms, is described by Mouchel as a "turnaround specialist".
His track record includes the restructuring of Crest Nicholson in 2009 as chairman and of City Inn in 2011 as chief strategic adviser.
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
He will take over from interim chairman Sir Michael Lyons on 9 January.
Commenting on his appointment Mr Shearer said: "Mouchel has built a strong position and reputation in the UK public sector consultancy and business services market. I'm delighted to become Chairman of Mouchel and look forward to working with Grant Rumbles and Rod Harris to help bring about its recovery and contribute to its future success."
Shares in Mouchel have risen 11% this morning in reaction to the new appointment.
BS
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published