Under-fire contractor Serco suffered a setback last week after its finance director announced he was off just hours after the company revealed it is to sell nearly 50 million new shares to raise £170m. The outsourcing giant announced as part of an interim management statement on 30 April it plans to 'strengthen the balance sheet' by issuing the new shares, which will represent almost 10% of existing capital. Within hours, the company also revealed its group chief finance officer, Andrew Jenner, was also stepping down.
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