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Capita PLC on Thursday said its chief financial officer intends to retire from the company in August, while securing the CFO of Ventient Energy Sarl as his successor. The London-based outsourcing, consulting and digital services provider said Tim Weller will retire having joined the company in May 2021 and playing a ‘key’ role in working with former chief executive officer Jon Lewis and, since January, with current Chief Executive Officer Adolfo Hernandez. Capita said Weller will continue to support Hernandez through the company’s capital markets event on June 13 and towards its interim results announcement in August. Pablo Andres will succeed Lewis as Capita CFO, having served as CFO at Ventient Energy for the last three years. Andres will join the company on July 15. Weller commented: ‘In August 2023, I had surgery following the diagnosis of a relatively severe form of prostate cancer and, whilst I am expected to make a full recovery, this has helped me decide that now is an appropriate moment to draw to a close my career as a CFO, which has spanned over 22 years with seven different companies. ‘In my remaining time with Capita, I will continue to be fully committed to supporting Adolfo and in facilitating a smooth transition to Pablo as CFO.’ Capita Chair David Lowden commented: ‘Pablo has extensive experience operating as a senior finance executive across a range of sectors with companies directly comparable with Capita. He is highly experienced in driving change in complex businesses and has delivered significant cost savings, streamlined organisation structures and enhanced processes and systems. He has the right skillset and drive to support Adolfo in leading the next chapter of Capita.’ Incoming CFO Andres commented: ‘Capita plays a critical role in society and there is great opportunity for growth and scale through simplification, efficiencies and technology enablement. With a growing market opportunity, Capita is well placed to solve clients’ evolving needs and continue to be a leading player in the markets they serve.’ Shares in Capita were down 0.6% to 13.12 pence each in London on Thursday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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