Rok FD resigns after his suspension is lifted
Ashley Martin has resigned as group FD at Rok after his suspension from the business was lifted. He is succeeded by Sean Cummins
Building services group Rok has lifted its suspension on group finance
director Ashley Martin, however, he has decided to step down from the role.
A statement from the company said: “The board wishes to emphasise that Ashley
has never been accused of wrongdoing nor have our investigations revealed any
evidence of any malpractice.
“The board finds it regrettable if there has been any damage to Ashley’s good
reputation by any speculation outside of the company to the contrary.”
Earlier this year the board appointed BDO to investigate its plumbing,
heating and electrical division (PHE), which was underperforming despite
restructuring and the termination of various contracts.
BDO found serious failings in the financial controls of the PHE division,
according to an earlier Rok statement. However, a further investigation by the
board found the problems arose from a combination of weak financial, operational
and commercial controls. Actions have already been taken by the management to
rectify the problems.
At the time of the board investigation it suspended Martin claiming the
company needed “new financial leadership”. Martin’s duties were passed to David
Miller, a specialist interim CFO.
The full time role of group FD has been handed to Sean Cummins who takes up
the position on 1 October. Cummins was most recently FD at engineering
consultancy Scott Wilson Group. He has previously held senior finance roles at
chemical manufacturers Yule Catto and BTR Power Systems.
Further reading:
Catlin
Group CFO takes non-exec role at Chaucer
Rok
FD suspended amid ‘failing’ financial controls
Rok
interim profits drop 50% after accounting trouble