Ex-Collins Stewart chair to lead board of accountant RSM Tenon

Elizabeth Fournier
TIM INGRAM, the former chief executive of Collins Stewart Hawkpoint, was yesterday announced as the new chairman of accountant RSM Tenon.

Ingram will replace outgoing Adrian Martin, who said last month he would step down after just three months in the role.

The appointment follows a troubled few months for the firm, which in January ousted its former chief executive and chairman, and told investors it would have to restate its accounts for the previous year.

It also brought in turnaround specialists to negotiate with its lenders and plan cost cutting to help it return to profitability.

Yesterday, chief executive Chris Merry told investors: “We continue to make good progress with our cost reduction programme and the development of our strategic plan.”

Ingram was chairman of Collins Stewart Hawpoint from 2010 until it was sold to Canaccord Genuity in March. Prior to that he was the chief executive of Caledonia Investments, and chairman of First National Bank from 1996 to 2002.

“Tim has very relevant experience and a strong track record of delivering shareholder value.”

I am confident he is the right person to take the chair at this important stage in the development of the business,” Martin said yesterday.