Other FD News - May

• Sir Rocco Forte is said to have made hay from the reported dissatisfaction of Andy Clarke, FD of the Malmaison and Hotel du Vin hotel chains owned by MWB, having been passed over for the CFO role for the two businesses by looking to poach him for his own hotels group. The Times reported in March that Clarke had signed up, but the group is yet to confirm the appointment. It added that Clarke would not replace Karim Naffah, the FD who was dismissed from Mitchells & Butlers after its financial hedging disaster last year, and who Sir Rocco currently retains as an adviser on his group’s recent refinancing efforts.

• The UK finance director of French transport and engineering group Alstom was one of three board directors arrested by police and detained for questioning in March on suspicion of bribery and corruption, conspiracy to pay bribes, money laundering and false accounting, amid a Serious Fraud Office investigation. The investigation by the SFO concerns the suspected payment of bribes by companies within the Alstom group in the UK. Robert Purcell and the two other directors were released without charge. The SFO says it suspects “that bribes have been paid in order to win contracts overseas, and that this has involved associated money laundering and other offences.”