CHARTERED ACCOUNTANT Paul Pindar is to leave outsourcing business Capita after 26 years in key roles.
Pindar, who qualified with Coopers & Lybrand in 1984, joined Capita following its management buyout from CIPFA in 1987. He has spent 22 years as managing director and then CEO.
Capita was formed with CIPFA in 1984, led by Rod Aldridge. It floated on the stock exchange in 1989 with a market cap of £8m, and is now a FTSE 100 company with a market cap of £6.5bn.
Pindar is leaving to establish a portfolio of private equity opportunities, looking to grow SMEs.
Current deputy chief executive and joint COO Andy Parker will succeed Pindar from 1 March 2014.
“I have been enormously privileged to lead the team at Capita. The group’s growth and success is due to the commitment and team work of the group board, the senior management team and all my colleagues across Capita. After 26 years with the company and approaching my 50th results presentation, I believe that now is the right time to hand the reins over to Andy.”
Martin Bolland, chairman, said: “Paul has made an enormous contribution throughout his career at Capita. He has inspired the best in his team with his indomitable leadership and unwavering sense of fun and good humour. Our robust succession planning has ensured that there is a strong team in place to continue delivering success.”
Capita’s share price was stable in this morning’s trading, up 4p to 987p.
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