Interserve Group Limited has today announced that Debbie White will step down from her role as Chief Executive Officer as of 31 December 2019, along with a new divisional operating structure for the Group and its three divisions.
Having outlined her intention to leave the company in March 2019, White’s decision to step down followed the delivery of the company’s deleveraging programme, in which she led Interserve through one of the most challenging periods of corporate restructuring in its history.
White led the delivery of the Group-wide transformation programme and ‘Fit for Growth’ initiative, which delivered material cost savings of £20 million in 2018 and improvements in operating margin performance. Since March 2019, she has worked in partnership with Interserve Group Limited’s new shareholders to strengthen the leadership across the Group.
Speaking of her time at Interserve White said: “The past two years at Interserve have been the most demanding of my professional career. As a management team, we fought to deliver a stronger financial platform for the business from which it can move forward. Whilst we were ultimately unable to secure sufficient shareholder support for the proposed deleveraging plan, under new ownership, we were able to reduce the Group’s debt which alongside the successful delivery of the company wide transformation programme, was critical to securing the future of the Group.
“I am grateful for the support of our customers, suppliers and the UK Government during this period. Most importantly, I am grateful to the many fantastic people I have worked alongside at Interserve, and I wish them every success in the future.”
Key operational responsibilities of the Chief Executive’s Office will in part be devolved to the business divisions, with Mark Morris, currently Executive Director and Chief Financial Officer, assuming the role overseeing all Group functions.
Also announced today, Interserve has said the Group will be strengthening its leadership capabilities in each of its three business divisions.
Following the appointment of Alan Lovell as Chairman of Interserve Group Limited in July 2019, the Board has been reviewing the strategic direction for the Group’s three business divisions, which will each be led by a Chairman and Managing Director. The Chairman of each division will sit on the Interserve Group Limited Board.
Interserve Construction Limited will be chaired by Nick Pollard, who has served as a Non-Executive Director to the Board since June 2018. Paul Gandy who joined Interserve in October this year will continue as the Managing Director for the Construction division, whilst the International Construction business will continue to be led by George Franks who will report into Pollard.
Interserve’s Equipment Services division, RMD Kwikform, will continue to be led by its Chairman Ken Hanna and Ian Hayes as Managing Director. RMD Kwikform provides engineering solutions in the specialist field of temporary structures needed to deliver major infrastructure and building projects.
Support Services will be chaired by Alan Lovell, Chairman of Interserve Group Limited. Lynn Mawdsley has been appointed as the Managing Director of the Support Services business. Mawdsley previously held the role of Deputy Chief Financial Officer and joined Interserve in January 2019 from Sodexo. The division manages and delivers outsourced operational activities, including facilities management, justice, healthcare and training and employment services, across a range of sectors in both the public and private markets in the UK.
Commenting on the restructure, Lovell said: “Since joining Interserve Group Limited in July, I have been impressed with the scale and capabilities of the Group, alongside the outstanding work we deliver for clients. This new operating structure will provide us with increased focus in the right areas and ensure that we are well placed to continue this work. By recognising the diversity of the three business divisions and giving each one the right governance and operating framework it will enable them to deliver sustainable growth in the distinct markets they serve.”