Capita, which provides IT-led services for the public and private sectors, delivered a series of profit warnings after running into problems chasing contracts on slim margins and last month announced that Nick Greatorex was stepping down as CFO.
An official announcement could be made as soon as Wednesday, Sky News said, citing sources.
The company also has a new chief executive, Jon Lewis, who took over in December.
Butcher was appointed Go-Ahead’s CFO in 2015, having previously served as finance director at state-backed rail infrastructure company Network Rail.
Go-Ahead and Capita said they had no comment on the Sky News report.
Capita this month reported a 60 percent drop in first-half pre-tax profit, underlining the huge challenge facing the company.
Go-Ahead, which has been criticized for cancellations and strikes over the past two years, said in May that improved efficiency measures on its Southeastern rail franchise would boost profit this year.
Reporting by Kanishka Singh in Bengaluru; Editing by David Goodman