Capita appoints Patrick Butcher as new finance boss as shake-up gathers pace

He will join at a testing time for the outsourcer.

Capita has a new finance chief (PA)
Capita has a new finance chief (PA)

Capita has recruited Go-Ahead’s Patrick Butcher as its new finance chief as the outsourcer presses ahead with a radical transformation strategy.

The group, the country’s biggest outsourcer, said Mr Butcher will join the company at the end of the year.

He will replace Nick Greatorex, who will step down from the board and leave Capita in September.

Patrick is joining Capita at an exciting time
Chief executive Jon Lewis

Capita boss Jon Lewis said: “Patrick is joining Capita at an exciting time. We have de-levered the balance sheet, disposed of non-core assets, started to reduce costs and invest in the business.

“We are looking forward to adding Patrick’s new perspective, energy and experience to support the good start we have made with our transformation programme and new strategy, delivering the commitments we have made to all our stakeholders.”

Mr Butcher was most recently chief financial officer at Go-Ahead, owner of the troubled Southern railway franchise, where he has held that role since 2016.

Patrick Butcher previously worked at Go-Ahead and Network Rail (Network Rail/PA)

He also has 19 years of experience as a finance director, including six years as group finance director at Network Rail from 2009.

His earlier career was spent at Deloitte & Touche, where he trained as a chartered accountant and worked across its audit and management consultancy practices.

But he will join at a testing time for Capita, with the firm undergoing a large-scale transformation under Mr Lewis.

The chief executive has said Capita will centralise its procurement, consolidate its UK footprint and exit leases on properties as he seeks to cut costs.

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Capita also raised £700 million through a recent rights issue, as well as selling off units to garner £400 million.

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