BusinessCompany NewsAlpha Airports FD exits during accounting probe

Alpha Airports FD exits during accounting probe

In-flight catering group loses FD and chief executive as investigation into irregularities continues

Heather McRae and Kevin Abbott, the finance director and chief executive of
beleaguered in-flight catering company Alpha Airports, have abruptly left the
company.

Alpha Airport’s shares were suspended three weeks ago, prompting an
investigation into allegations of financial irregularities related to a
contracts Alpha sealed with Excel Airways, a subsidiary of Icelandic investment
group Avion, the Financial Times reports. Avion has asked its auditors,
KPMG, to look into the issue.

The problem was originally flagged up when PricewaterhouseCoopers withdrew
its approval of Alpha Airports’ preliminary final results. A special committee
has since been established to investigate the matter.

The loss of McRae and Abbott has deepened the crisis facing the company.
Peter Williams, a former Selfridges chief executive and accountant will replace
Abbott and Tim Redburn, a recent chief executive at Simon Group, will act as FD.

The company is searching for a permanent FD as Redburn will only hold the
position for three months.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor