Strategy & Operations » Leadership & Management » Speedy Hire stabilises finance on board

Speedy Hire stabilises finance on board

Rental business appoints chair with CFO experience, while FC oversees finance function following FD's departure

SPEEDY HIRE has appointed a new chairman with finance experience and handed responsibility over its finance function to its financial controller following the departure of finance director Lynn Krige.

The construction equipment rental business said Jan Åstrand, the former chief financial officer of Hertz (Europe) and Commodore International, will join the board with effect from 1 November 2014.

Speedy said the process to identify and appoint a successor to Krige is underway and, in the interim, the group’s finance function is being overseen by Ian Scapens, group financial controller, and Tracey Atkin, group assets and information director.

The group reported a “good overall start to the year” in a trading update ahead of its interim results for the six months ended 30 September 2014 and said it is “on track” to deliver a result for the full year in line with the board’s expectations.

In March, the company announced that it has suffered a £2.7m charge on accounting irregularities discovered last year, ith Deloitte and law firm Addleshaw Goddard brought in to conduct an independent legal and forensic investigation in addition to an internal company review.

The irregularities “were the result of deliberate actions of a small number of employees, who have now left he business”, the review said. Following the discovery, the international division FD was suspended last year.

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