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Dougie Sutherland to Leave Interserve

12 February 2019 / by FM Editor (author) / London
Dougie Sutherland. (photo: )
Dougie Sutherland.

Interserve has announced Dougie Sutherland, the managing director of its Developments Division has stepped down from its Board of Directors with immediate effect and will be leaving the group on 28th.

 

Sutherland joined the construction and facility services outsourcer in January 2011.

 

Following the approval of a debt-for-equity swap to reduce an estimated debt pile of more than £600 million earlier this month, and calls for sweeping changes to Interserve's board from the New York and Cayman Islands-based hedge fund, Coltrane, which holds more than 5 per cent of the company's shares, a cull of senior executives was widely anticipated.

 

Discussing the announcement, Interserve chairman, Glyn Barker, said:

"I would like to thank Dougie for his dedication to Interserve and especially his recent contribution to our business transformation programme 'Fit for Growth' integrating the Developments business into Support Services, the integration of the UK and International Construction businesses and the sale of a number of investments and businesses."

 

Debbie White, Interserve CEO, said:

"I would like to thank Dougie for his contribution to Interserve over the last 12 years and particularly for his support during the last 18 months, during which time he has led a range of initiatives and changes which will contribute to our future success."

 

FM Editor

Author

FM Editor

FM Magazine is the leading periodical for professionals in facilities management, real estate management and associated sectors. Produced in UK and Ireland, International and Gulf Cooperation Council editions (the GCC Edition was the first publication in the Middle East to focus on "facilities management" at its launch in 2005 and is credited with introducing the region to the term), FM Magazine is available on subscription.

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