One of the eight former Carillion directors facing a boardroom ban after the construction giant’s collapse in 2018 is to leave Tesco.Alison Horner, chief executive of Tesco Asia, is to step down next
Richard Adam, Richard Howson and Philip Green at a parliamentary committee hearing in 2018
The government has started legal proceedings to ban up to eight former Carillon directors from holding boardroom posts.
Days before the third anniversary of Carillion’s collapse, new business secretary Kwasi Kwarteng launched the legal bid to ban the former bosses from holding director positions. Chief executive Richard Howson, chief financial officer Richard Adam and chairman Philip Green, who led the company through its period of rapid expansion, are all being targeted by the Insolvency Service, which is handling the proceedings.
In addition, Green’s successor and interim CEO Keith Cochrane and Zafar Khan who took over as CFO after Adam in 2016 also face potential bans. Three non-executive directors, Andrew Gougal, Alison Horner and Ceri Powell, are also being targeted with the legal proceedings. If the cases are successful, the directors could be banned from holding board-level positi
Moves to disqualify former directors of collapsed engineering giant Carillion have been welcomed, but unions are pressing for legal action.
New Business Secretary Kwasi Kwarteng has started company director disqualification proceedings against eight named officials, including former chairman Philip Green and ex-chief executives Richard Howson and Keith Cochrane.
The Insolvency Service made the announcement on the eve of the third anniversary of the outsourcing giant’s collapse, which led to the loss of thousands of jobs.
The Unite union said the move should have been made much sooner.
Assistant general secretary Gail Cartmail said: “Carillion’s collapse was not a victimless white-collar crime as thousands of workers lost their jobs.
Moves to disqualify former directors of collapsed engineering giant Carillion have been welcomed by unions, though they are pushing for the government to take legal action even further.
New Business Secretary Kwasi Kwarteng has started company director disqualification proceedings against eight named officials, including former chairman Philip Green and ex-chief executives Richard Howson and Keith Cochrane.
The Insolvency Service made the announcement on the eve of the third anniversary of the outsourcing giant s collapse, which led to the loss of thousands of jobs.
The Unite union said the move should have been made much sooner.
Action was taken against eight named officials, including former chairman Philip Green (left) and ex-chief executives Richard Howson (right) and Keith Cochrane