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Mon August 19 2019

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Interserve director departs

12 Feb Interserve executive director Dougie Sutherland is leaving the company.

Dougie Sutherland
Dougie Sutherland

It seems he may have made himself redundant. He was managing director of Interserve’s Developments division, which has now been integrated into the Support Services operations that is overseen directly by chief executive Debbie White.

His core responsibilities centred on Interserve’s PFI investments, which have been largely divested by now. His handing over of the Dunbar Energy Recovery Facility to the client, Viridor, last month was considered ‘an important milestone in the transformation of Interserve’.

In a statement today the company said: “Dougie Sutherland will be leaving the executive team on 28th February 2019 and step down from the board of directors with immediate effect.”

Dougie Sutherland’s departure leaves only Debbie White and finance director Mark Whiteling from the executive team in the boardroom, alongside six non-executives.

Interserve’s biggest shareholders want all of the board to quit except for chief executive Debbie White. Coltrane Asset Management, a New York hedge fund that holds 17.5% of Interserve, last week requisitioned a general meeting of shareholders to sack the entire board except for the chief executive.

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Dougie Sutherland, 54 years old, joined Interserve from 3i in September 2006 as managing director of Interserve Investments, directing the group's PFI activities. In 2010 his role expanded to encompass the group's strategic developments. He was promoted to the main board in 2011.

Debbie White said: "I would like to thank Dougie for his contribution to Interserve over the last 12 years and particularly for his support during the last 18 months, during which time he has led a range of initiatives and changes which will contribute to our future success."

Dougie Sutherland said: "I have enjoyed working for Interserve and while I am leaving the company I am pleased to have contributed to the 'Fit for Growth' programme which I am sure will be a foundation for the future success of the company."

Mr Sutherland attracted some press comment when he sold 38,000 shares at 408 pence, two weeks before the May 2016 profits warning that saw the share price dive to 289 pence. The share price today is 11 pence.

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