November 29, 2019 / 2:35 PM / 11 days ago

UPDATE 1-UK outsourcer Mitie names new interim CFO as overhaul underway

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Nov 29 (Reuters) - British outsourcer Mitie Group Plc said on Friday it has appointed logistics company Yodel’s former boss Andrew Peeler as its interim chief financial officer to succeed Paul Woolf, who is leaving next year.

The new appointment comes days after the company warned revenue growth would be affected by Brexit and the upcoming elections, as clients hold back on committing to new projects.

It also comes at a time when Mitie is working to cut costs to revive its fortunes under Chief Executive Officer Phil Bentley, who took over at the end of 2016. The company reviewed its strategy and accounts after a string of profit warnings in 2016.

“As Mitie moves into the second phase of its transformation strategy (which is focused on accelerated value creation), Andrew’s skills will be of immense value to the group,” Bentley said.

Peeler, who will join Mitie in December, will be appointed to the board in January, when Woolf leaves to join intellectual property management company CPA Global as its finance boss.

Mitie’s shares were little changed on Friday.

Peeler also worked at Mr Kipling owner Premier Foods in 2009 as its interim finance head for a few months. (Reporting by Yadarisa Shabong in Bengaluru; Editing by Shounak Dasgupta)

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