BDC

Interserve CEO Is Stepping Down

Interserve CEO Is Stepping Down

Interserve Group’s Chief Executive Officer Debbie White is set to leave the company at the end of the year. Debbie will step down from her role as of 31 December 2019.

During her time at Interserve, she led the company through one of the most challenging periods of corporate restructuring in its history. During this period, she was instrumental in maintaining strong relationships with the Group’s customers, from private enterprises to the UK Government.

Debbie led the delivery of the Group-wide transformation programme and ‘Fit for Growth’ initiative, which delivered material cost savings of £20m 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 and ensure it has the right mix of experience across the Board and Executive Team to continue its growth as a privately held company.

Alan Lovell, Chairman of Interserve Group Limited, said: “Debbie leaves Interserve with the greatest respect of the Board. In her time here, she has worked tirelessly to turn the business around and has steered the Group through a period of unprecedented uncertainty, which included securing a critical refinancing. She led the Group’s ‘Fit for Growth’ initiative, transforming Interserve into a more agile business, with reduced costs and a more competitive value proposition. On behalf of the Board and all at Interserve, I would like to thank her for the huge contribution that she has made through such a critical and challenging period for the business.”

Debbie White, Chief Executive Officer of Interserve Group Limited added: “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.”

Interserve also announced it will be strengthening its leadership capabilities in each of its three business divisions. As a result, the 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.

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BDC 299 December 2022