April 2 Incoming Serco Chief Executive
Rupert Soames is to get to grips with turning around the British
outsourcing firm earlier than planned after the company said on
Wednesday he would now join in May rather than June.
Soames, a grandson of former British Prime Minister Winston
Churchill who has led power provider Aggreko for 11
years, will now start work on May 1 as opposed to June 1.
A popular appointment, Soames is faced with restoring
Serco's reputation as the firm emerges from a ban on new British
government work caused by it being found to have charged for
tagging criminals who were not being monitored, in prison, or
The scandal rocked Serco and hit its share price, led to its
CEO Chris Hyman quitting in October and contributed to warnings
on profits, which have already spelt out a tough year ahead.
Soames will lead Serco's bid to win back the government's
trust alongside handling a restructuring of its UK business and
dealing with slowing income on a key Australian immigration
contract and lower levels of new work.
Shares in Serco were up 0.2 percent to 425.5 pence at 0924
GMT, having fallen 32 percent in a year.
(Reporting by Neil Maidment; editing by Kate Holton)