Henriksson’s rein ends

 
Steve Dinneen
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ULF Henriksson’s tenure at Invensys came to an abrupt end yesterday after its board shocked the market by unceremoniously shepherding him out of the door.

During his time at the engineering giant he has attracted criticism and praise in almost equal measure. His supporters point to the steady rise in the firm’s share price from 124p when he took the reins in 2005 to 357p before his departure.

However, critics argue Henriksson, known as a turnaround specialist, was a poor fit for the firm. They were given ample ammunition after he appeared to stoke rumours that China Southern Rail could buy part of the firm.

Its shares tanked and it appears that his card may have been marked from then on.