Serco hope in new chairman
SCANDAL-HIT outsourcing group Serco has named former Centrica boss Sir Roy Gardner as its new chairman as the company seeks to turn around its fortunes.
Serco logo
Sir Roy will take over as non-executive chairman on July 1, ending a six month search to replace Alastair Lyons.
Serco was thrown into crisis in 2013 when it had to repay the Government £68.5million for overcharging on criminal tagging contracts as well as £2million from past profits for a prisoner- escort deal.
A series of profit warnings have since followed and the group has seen its share price slashed in half over the past year.