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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.”

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