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Management changes announced at Telent

Alex Mayhew-Smith
Tuesday 05 September 2006 14:02

Mark Plato has been named as CEO of Telent and will take over from Mike Parton at the beginning of November.

 

Other changes at Telent, the services business which was spun out of Marconi when the rest was sold to Ericsson, will see Pavi Binning stepping down from his position as chief financial officer.

 

Also, Kathleen Flaherty, a non-executive director, will not to stand for re-appointment at the 2006 annual general meeting and will retire from the board.

 

The changes follow the failed attempt to sell the company, which is listed on the London Stock Exchange, to investment company Fortress Investment in July. The sale was blocked when Polygon Investment Partners, which holds almost 24 per cent of Telent, indicated it intended to vote against the sale.

 

Heather Green will assume the role of chief financial officer.

 

Plato has been managing director of Telent, and previously of the services business of Marconi, since September 2002.

 

“I would like to thank Mike and Pavi for their huge contributions in successfully restructuring the balance sheet, completing the Ericsson transaction, securing the UK Pension Plan and putting telent plc in a strong position for the future. I would also like to thank Kathleen for all her guidance, especially in relation to US markets,” said John Devaney, chairman of Telent.

 

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