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Virgin Media CFO in shock departure

Jerry Elliott, chief financial officer at Virgin Media, will leave the
company for family health reasons after just five months in the job.

While the search for his replacement is already underway, his role will be
split between Virgin Media’s treasurer Rick Martin – who will lead its capital
markets and treasury functions – and controller Robert Gale, who will act as its
principal financial officer for the purposes of financial reporting. Additional,
unspecified senior members of the finance function will manage the company’s
commercial finance activities.

Elliott started work as Virgin Media’s CFO on 5 January, relocating to its
headquarters in Hampshire from the US where he served as CFO for Cengage
Learning. He leaves on 31 May.

The news marks another setback for Virgin Media’s search for stability in the
leadership of its finance function, as Elliott took over from Charles Gallagher,
who had been serving as interim CFO since March 2008 when Jaques Kerrest left to
return to the States.

“Jerry was an outstanding addition to our company and we are very sorry to
lose him but understand the circumstances. We have reviewed the situation with
Jerry and, with regret, we jointly agreed that it is unlikely to be resolved
within a reasonable timeframe,” says CEO Neil Berkett. The CEO had hailed
Elliott’s “strong experience in finance, capital markets, investor relations and
M&A” on his appointment.

See
our coverage of Elliott’s appointment by clicking here

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