FORMER ITV boss Sir Charles Allen was yesterday appointed as chairman of Danish outsourcing giant ISS, ahead of a potential float.
City A.M. understands that Allen, who was already a director at the cleaning and catering firm, has been promoted to the top job as the firm’s private equity owners consider their exit strategy.
Allen’s case was aided by his ability to commit to the company for the long-term and his reputation with institutional investors.
ISS’ owners – including Goldman Sachs and EQT – have not decided whether to float the firm. But it is thought that any IPO is more likely to happen on the Copenhagen stock exchange than in London.
ISS failed in a previous attempt to go public in Copenhagen in 2011. It was also involved in merger talks with British rival G4S in 2011.