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G4S to name Misys's Raja as new CFO - report
August 27, 2013 / 6:08 PM / 4 years ago

G4S to name Misys's Raja as new CFO - report

LONDON, Aug 27 (Reuters) - G4S, the world’s biggest security firm, will appoint Misys’s Himanshu Raja as its new finance boss on Wednesday when it reports its interim results, Sky News said.

The British firm have been looking for a new chief financial officer since Ashley Almanza replaced Nick Buckles as chief executive in June, just weeks after joining the firm as CFO.

G4S declined to comment on Tuesday. Financial software provider Misys was unavailable for comment.

Raja only joined Misys as CFO in February and has held finance roles at Logica and BT Group.

Alongside G4S’s first-half results Almanza is expected to outline his strategy for improving the company’s finances and reputation after a string of damaging blunders.

G4S has endured a torrid near two years including an abandoned takeover of Danish cleaning firm ISS, a botched contract to staff the 2012 Olympics and a profit warning in May. In July Britain also barred G4S for now from new work after an audit found it had overcharged for the electronic tagging of criminals.

Almanza is expected to give some details on his strategy for growth, cost savings, and disposals that could help reduce debts of 1.8 billion pounds ($2.80 billion). Analysts have said a rights issue is also an option.

G4S is not expected to give full details of Almanza’s action plan until October or November, a source familiar with the situation told Reuters last week. ($1 = 0.6435 British pounds)

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