Sizer discharges himself from Southern Cross
FD of UK's largest care home operator tells company that he 'wishes to step down from his position as finance director.'
Graham Sizer is to step down from his position as FD of Southern Cross
Healthcare at the end of next month.
The
FTSE
250 company said today: ‘Graham Sizer has indicated to the board that he
wishes to stand down from his position as finance director. In order to achieve
an orderly handover, Graham has agreed to remain with the Company until 29
February 2008.’
Last year, Sizer cashed in £7.8m of shares after the chancellor announced
plans to introduce a flat rate of 18% on capital gains.
He will be replaced by financial controller Jason Lock who has been second-in
command of the finance function since joining the company in March 2003.
Lock, 35, is a chartered accountant and before taking on his role at Southern
Cross worked at PricewaterhouseCoopers in various audit and tax roles.
He worked closely with Sizer during Southern Cross’ 2006 IPO and has been
closely involved in the company’s financing strategy and acquisition activity
since that time, the company said.
Bill Colvin, CEO of Southern Cross, commented: ‘We are pleased to announce
Jason’s appointment as FD and welcome him to the board. His knowledge of
Southern Cross and of the care home industry combined with his acquisition
experience will be of great benefit to the group.’
Lock is set to join the board of Southern Cross on 1 March 2008.
Further reading:
CGT fears
lead Sizer to £7.8m share sale