Former Six Continents finance director Richard North will step down "by mutual consent" as chief executive of InterContinental Hotels at the end of September 2004. During North's tenure, the group had seen its share price increase by 67%, but a company statement says that a new focus on brand development rather than financial management is the reason for his departure.
Roger Payne, chief finance director of Rentokil Initial, has been appointed non-executive director of LogicaCMG and chairman of the audit committee. Payne takes over from Richard North, who is retiring due to “other business commitments”.
Warren Hillier has been recruited as the new CFO for Headcount Worldwide Field Marketing, a WPP company. Hillier was formerly finance director for Southern Fried Records and Oyster Music, both of which are affiliates of Sony Music.
Tim Perks, the former CFO of Staffware, has joined communication services provider Redstone as its chief financial officer. Perks replaces Andrew Walsh, who has resigned as director of the company.
Venture Production, the Aberdeen-based oil and gas production company, has promoted finance director Mike Wagstaff to chief executive after the retirement of Bruce Dingwall. Wagstaff previously spent 10 years in the corporate finance department at Schroders.
Bradford & Bingley group finance director Rosemary Thorne has been appointed to the board of Cadbury Schweppes as non-executive director. Thorne, a former finance director at Sainsbury’s, is also chairman of the financial reporting committee of The Hundred Group of Finance Directors (see page 30).
St James’s Place, the wealth management group, has promoted FD Andrew Croft to its board.
NTL has announced the promotion of its chief financial officer, Scott Schubert, to executive vice president of corporate development. Jacques Kerrest, former managing director and CFO of Equant, a provider of global data services, will succeed Schubert as CFO.
Regal Petroleum, the oil and gas exploration and production company, has named Roger Phillips as its new finance director. Phillips has more than 25 years of experience in the oil and gas industry, including 19 years at Amerada Hess Corporation.
John Lewis finance director Ian Alexander assumed the responsibilities of deputy chairman, in addition to his current role, in September. The previous deputy chair David Felwick retired after 22 years at the retailer.
Rathbone Brothers, the listed investment management company, has promoted group financial controller Sue Desborough to finance director. Desborough takes over from Andy Pomfret, who has become chief executive.
Paul Holden has joined Marlborough Stirling, a provider of software to the financial services sector, as finance director. Holden was previously finance director at Albany RTA.
East Renfrewshire Council director of finance David Dippie has been promoted to chief executive. Dippie joined the council in 1995 and takes over from Peter Daniels.
Move of the month
MFI finance director Martin Clifford-King has left “by mutual consent” and is replaced by former KPMG partner Shaun O’Callaghan (pictured).
Clifford-King and MFI manufacturing director Gordon MacDonald were sacked after “significant issues” with the retailer’s newly implemented supply chain IT system led to a shock profits warning. MFI’s UK Retail division posted a 6% drop in year-to-date orders, as MFI suffered an “unexpected shortfall in the group’s ability to deliver orders”, a company statement read.
O’Callaghan, a financial turnaround specialist, joined MFI in December 2003 as director responsible for strategy and development, having previously served at Norwich Union and Andersens.
Clifford-King joined MFI in 2000 from Harvey Furnishings, where he was group FD. He has also had financial roles at Burtons and Debenhams.
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