Good morning: It is a year since Sir Ian Powell, former chairman of PWC, was appointed chairman of Capita . He attended his first board as chairman-designate last September. Two days later the troubled outsourcer issued a profit warning sending shares down 27 per cent to a four-year low. Since then he has parted company with Andy Parker, the chief executive, and warned that under new accounting rules last year’s profits were actually a third lower than reported. Nick Greatorex, the interim chief executive, is upbeat, telling shareholders that the turnaround is on track: “We remain confident that these actions are making Capita a simpler business, well positioned for the future under new leadership.” But…

Source: The Times September 21, 2017 08:03 UTC