SERCO will appoint Sir Roy Gardner as its new chairman, replacing Alastair Lyons.
Gardner has previously served as the chairman of catering giant Compass, and is currently a non-executive director at bookmaker William Hill. He was also on the board of Manchester United when it was listed on the London Stock Exchange.
Sky News reported that the government contractor could announce Gardner’s arrival as early as this week, however Serco declined to comment on the propsect of the appointment.
Serco has been going through a difficult time. Shares in the firm have fallen by around 50 per cent in the last year, giving the company a market cap of close to £1.5bn.
Rubert Soames, the grandson of former Prime Minister Sir Winston Churchil, was brought in as chief executive last May, to help turnaround the firm’s fortunes.