BusinessCompany NewsInvensys CFO to step down

Invensys CFO to step down

FTSE-100 company Invensys has announced Kathleen O'Donovan is to step down after ten years as chief financial officer and will be replaced by Adrian Hennah, a former finance executive of GlaxoSmithkline.

Link: Invensys FD to stay on despite turmoil

Hennah will join the company in October as senior vice president, finance and work alongside O’Donovan for ‘a few months.’

The board of the engineering board will vote Hennah’s election when it meets on 23 October. Although the company did not say when O’Donovan will retire, industry observers estimate retirement will come after the company announces its results in November.

O’Donovan decided to leave when former chief executive Allen Yurko departed last year, but decided to stay on until his successor, Rick Haythornthwaite, got to know the company, according to reports in the FT

She was the first ever woman finance director when she joined BTR in 1991.

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