Interserve names turnaround specialist as new chair

摘要

Interserve has appointed turnaround specialist Alan Lovell as its new chairman, replacing Glyn Barker, who goes after three years. Lovell is credited with rescuing Costain from the abyss in the mid-1990s when he was chief executive and has since worked at a number of struggling firms including PFI and rail maintenance specialist Jarvis - as well as joining Carillion's board two months before it went under at the beginning of last year. Lovell said he would work to "continue delivering Interserve's transformation and to capitalise on the significant opportunities ahead for the group". Barker joined Interserve in March 2016 and was at the helm when the firm went into administration earlier this year. He remains a non-executive board member of housebuilder Berkeley, as well as a board member at insurer Aviva and chairman of law firm Irwin Mitchell. Lovell's appointment comes four months after Interserve was forced into a pre-pack administration when its former shareholders refused to back a last-ditch plan to refinance the company.