Vantis seeks CFO in board reshuffle

Top 20 accountancy firm Vantis is restructuring its board, with the finance director and non-executive chairman stepping down.

Group FD Trevor Applin will now take on the chief operating officer role and is succeeded by Stephen Smith.

He becomes interim finance director until a permanent replacement is appointed.

Smith has held senior finance positions in a number of companies. Since 1995 he has operated as an independent consultant, non-exec and interim manager in restructuring, CEO, COO or FD roles. He is currently non-exec for Allergy Therapeutics and was group treasurer for The Rank Organisation for six years.

Paul Gourmand, the non-executive chairman, will retire later this month and is replaced by former global managing partner of advisory services at KPMG Mike Wheeler.

The former KPMG boss has previously worked as non-executive chairman of Close Brothers Corporate Finance and is currently chairman of the audit committee of Dubai Holdings.

CEO Paul Jackson retains his role in the new structure.

Executive director Paul Ashton, in charge of the firm's M&A strategy, steps down from the PLC board to the management board, and continues as company secretary.

Bob Thornton steps down from the PLC board to the management board. He is responsible for the group's core practice activities.

In its statement to the stock exchange, the firm stated that the restructuring was "appropriate to streamline the group's management" and take it "through its next stage of development".

The restructuring changes are to take effect on 17 December at the firm's annual general meeting.

Further reading:

Former Vantis expert Bassett Cross excluded from ICAEW