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G4S elevates CFO to the top post

G4S elevates CFO to the top post

As the current CEO steps down following London 2012 staffing fiasco, the new boss has his work cut out

As private security firm G4S' CEO Nick Buckles prepares to step down and retire from the company as a director on 31 May, the current CFO Ashley Almanza has been elevated to the top job effective June 1.

A former BG Group finance chief, Almanza only took up the position of CFO as recently as 1 May when the then CFO Trevor Dighton announced his intention to retire from his position on 30 April and from the company’s board after their annual general meeting on 6 June.

In a statement, G4S said Almanza was chosen after a process which considered both internal and external candidates. Following the appointment, John Connolly, chairman of G4S, said, "The board is extremely pleased to have attracted Ashley Almanza to the group. He brings a wealth of experience."

Aside from a past affiliation with BG Group, Almanza is currently a non-executive director of Schroders and Noble Corp, and a member of the advisory board of Oxford University Centre for Business Taxation.

With Almanza’s elevation, Stuart Curl, the group's regional CFO for the UK, Ireland and Africa, has been appointed interim CFO, whilst search for a new CFO is conducted. G4S also announced that Eddie Aston will take up a new role of Chief Operating Officer (COO) and will join the group on 8 July. He is currently CEO of Global Sectors at DHL.

G4S recently reported a sharp decline in full-year 2012 profit which reflected a loss related to the London 2012 Olympic Games security contract which was marred by staff shortages. The contract saw a loss of £70 million and related costs of £18 million, atop heavy criticism for its poor handling of the contract.

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