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UPDATE 1-Interserve taps former Carillion director as chairman

Fri, 12th Jul 2019 07:54

July 12 (Reuters) - Britain's troubled outsourcer InterserveGroup said on Friday Chairman Glyn Barker will be replaced byturnaround specialist Alan Lovell, who formerly chaired therestructuring committee of collapsed construction firmCarillion.

Lovell, currently non-executive chairman of Safestyle UK, will join on July 15. Barker will step down afterleading the debt-laden company since March 2016.

Lovell was previously named a non-executive director andchairman of the restructuring committee of Carillion as part ofan attempt to put together a rescue package for the company inits final 10 weeks of trading.

His appointment comes months after Interserve was placed inadministration following a rescue plan that was rejected by itsshareholders.

Britain's construction industry has been under intensepressure particularly since the collapse of Carillion, whichforced regulators to tighten rules for private companiesoperating in the public sector.(Reporting by Tanishaa Nadkar in Bengaluru; Editing by ArunKoyyur, Bernard Orr)

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