Serco shares rocket on appointment of Aggreko chief
Scandal-hit Serco has announced this morning that it’s appointed Rupert Soames, current chief executive (CEO) of Aggreko, as its new CEO.
Shares have jumped over 10 per cent on the news.
Chris Hyman, the company’s last boss, left in October, following the string of fiascos concerning the electronic tagging of prisoners.
Last month, the government contracted issues its second profit warning in three months.
Interim boss Ed Casey has been pressing on with its “corporate renewal programme”, which has won approval from the Cabinet Office.
Soames will take up his new post in June. He said this morning that, although it was a tough decision to leave Aggreko (he’s been with the power generation company for 11 years) he’s excited about joining Serco.
I am aware that the Company has experienced significant recent difficulties but the work that Serco does is important to the lives of millions of people and I believe that we can find a way through to a bright future.
Shares in Aggreko have shed over four per cent on the announcement.