BusinessCompany NewsSacked Marconi FD hits back

Sacked Marconi FD hits back

The former finance director of embattled telecoms group Marconi today launched a stinging attack on his critics, accusing the company of missing a golden opportunity to sell out at the height of the technology boom.

John Mayo, who was ousted from the company last year after its share price collapsed following a huge profits warning, broke his silence to say how the company could have realised £25bn for shareholders if it had found a merger partner at the beginning of 2000.

Writing in today’s Financial Times, Mayo also claimed financial controls at GEC, the company founded by Lord Weinstock that was later to become Marconi, were ‘completely inadequate’.

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