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Yes Bubbles-Im counting down the say -it's only about 660 days -its not really that long ! LOL

@ JG. I agree with this. Once the 160 m cuts are through plus a couple of decent contract wins , we could be looking at anticipated FCF of 200 m by 2026.

Thanks. Bit touchy at the moment. Didn't read that bit

She just sold-Jon Lewis appointment. Is she going or something more sinister?

Capita announces today that Claire Denton has been appointed to the role of Chief General Counsel and Company Secretary.

She will report directly to Chief Executive Officer, Jon Lewis, and will sit on the company’s Executive Committee.

Claire, who will join in March 2022, will be responsible for Capita’s legal function and company secretariat.

She joins from Aveva Group where she is currently Group General Counsel and Company Secretary.

Claire has more than 20 years’ experience working in the legal profession.

After qualifying as a solicitor, she also previously worked for Numerica Group, Interserve and Hughes Network Systems Europe.

Jon Lewis said: “I am delighted to welcome Claire to Capita. Her considerable skills and wide-ranging experience at a range of companies will be of great benefit to the organisation.”

Claire said: “I’m excited to be joining Capita as the company continues to transform; and I look forward to being part of the team.”

Capita’s current Company Secretary, Francesca Todd, will be leaving the organisation at the end of 2021.

Jon Lewis said: “Francesca has made a huge contribution in the 15 years she has spent at Capita. On behalf of the Board, I would like to thank her for all her hard work and commitment; we wish her all the best for the future.”

Richard Swan will be Acting Company Secretary until Claire Denton’s arrival at Capita.

Somebody has been buying very big.

Good on you JG68. I would urge anyone who cares to attend the Yellowstone event on 21st and make your views and concerns known. Raise some difficult questions

Dbuk -thanks. It should not be impossible to make money with less people and I'm hoping a rebrand might come with the strategy update

@NoFear I take no solace in anyone losing money, whether it be you, the pope, or Adolfo Hernandez. Id rather everyone did well to be honest and what we have here is a trader's share , Why do we have a traders share? Because the turnaround was much exaggerated imo

Sorry a few typos

Thanks GoCPI

I cant comment on Tim Weller . I don't know whether he in practice had much say and was just doing what he was told.

But if they can find 160m worth of savings in a few weeks it kind of begs the question why couldn't JL and TW do this? We don't know what the blockers were do we so it would be unfair for me to comment

However I am resentful towards the BOD for making it sound like we were on track , that the turnaround was virtually done and the platform for growth had been now laid and it was take-off. I invested a lot of money on the back of this and quite evidently (via the cuts that have now been announced) this was not the case

I've protested to IR and have been told that the SP is very much on the Board's mind. What they will do about that, I dont know

How difficult can it be with 3b of revenue to run a tight ship to make a low margin business work? Surely not that difficult. Be selective on property, have a much reduced but motivated staff

I have been part of businesses that have increased profits substantially by being rigorous on costs and I hope this is coming our way but a dividend during 2025? I'm not so sure. I'm praying this doesn't go bankrupt at this point , like Carillion

Thanks GoCPI

I cant comment on Tim Weller . I don't know whether he in practice had much say and was just doing what he was told.

But if they can find 160m worth of savings in a few weeks it kind of begs the question why couldnt JL and TW do this? We don't know what the blockers were do we so it would be unfair for me to comments

However I am resentful towards the BOD for making it sound like we were on tract , that the turnaround was virtually down and the platform for growth had been now laid and it was takeoff. I invested a lot of money on the back of this and quite evidently (via the cuts that have now been announced) this was not the case

I've protested to IR and have been told that the SP is very much on the Board's mind. What they will do about that, I dont know?

How difficult can it be with 3b of revenue to run a tight ship to make a low margin business work? Surely not that difficult. Be selective on property, have a much reduced but motivated staff

I have been part of businesses that have increased profits substantially by being rigorous on costs and I hope this is coming our way but a dividend during 2025? Im not so sure. Im praying this doesnt go bankrupt at this point , like Carillion

Discuss

More great news

@JG I don't know -there may be an II who has had enough

IR has indicated to me that part of the last sale will also be used to fund the cost cuts and the money is there via the debt facilities to implement the cost savings. Do I hold on or am I going to be left with massive egg on my face? We are talking about a circa 3 billion pound revenue company here . WTF have they been doing?

@JG68 -because the previous costs cuts didnt come with the losses reported

Please let us have your thought on what is going on and what the BOD has done here because I for one am seriously worried now

Mainly management and senior staff but quite frankly , and in case you work there , the company is loss making and needs its cost base radically transformed unless of course you are happy for the company to go bankrupt

If you dont work at Capita, ignore the above. But quite frankly from the heady days of an £11 share price what has unfolded is am unmitigated disaster

Alfredo not that Im doubting your word re Adolfo's lividness but with respect, this must have been inevitable before he joined in January. You are making it sound like he was surprised. Unless he was sold a pup like us.

He has said that the 100m cuts will go into 2025. I dont see that as that short term. Personally I think he knew what he was getting into full well and he is using the poor results to make hard nosed changes. I welcome that but would like that to be faster

This company seems to have been run as a public sector therapy extension group

Sorry -particularly think is viable

Crowman it was a discussion point- its not something I desire or particularly desire but if it was that or bankruptcy as a final option Id take it

Discuss