Capita plc ('Capita' or 'the Company') announces that Tim Weller, Chief Financial Officer ('CFO'), has informed the Board of his intention to retire from the Company in August 2024. The Board also announces that, following a thorough search process, Pablo Andres, who has been the CFO of Ventient Energy S.à r.l. for the last three years, has been selected to succeed Tim as CFO. Pablo will join Capita on 15 July 2024.
Tim joined Capita in May 2021 and played a key role in working with the then Chief Executive, Jon Lewis, in the latter stages of his leadership of the Group. Since January this year, Tim has supported Adolfo Hernandez as Chief Executive and will continue to do so through the Group's Capital Markets Event on 13 June 2024 and interim results in August.
David Lowden, Chairman of the Board said: "On behalf of the Board and the entire company, I would like extend my heartfelt gratitude to Tim for his dedicated service and leadership over the past three years. Tim has played an important role during this period of significant change in the organisation.
“I am delighted that Pablo will be joining Capita as the new CFO. Pablo has extensive experience operating as a senior finance executive across a range of sectors with companies directly comparable with Capita. He is highly experienced in driving change in complex businesses and has delivered significant cost savings, streamlined organisation structures and enhanced processes and systems. He has the right skillset and drive to support Adolfo in leading the next chapter of Capita.”
Tim Weller said: "It has been a privilege to be Capita’s CFO over the last three years. In August 2023, I had surgery following the diagnosis of a relatively severe form of prostate cancer and, whilst I am expected to make a full recovery, this has helped me decide that now is an appropriate moment to draw to a close my career as a CFO, which has spanned over 22 years with seven different companies. In my remaining time with Capita, I will continue to be fully committed to supporting Adolfo and in facilitating a smooth transition to Pablo as CFO."
Pablo Andres said: "I am excited to be joining Capita as CFO, working with Adolfo, the Board and the leadership team to execute the next evolution of Capita’s strategy. Capita plays a critical role in society and there is great opportunity for growth and scale through simplification, efficiencies and technology enablement. With a growing market opportunity, Capita is well placed to solve clients’ evolving needs and continue to be a leading player in the markets they serve.”
There is no other information to be disclosed under Listing Rule 9.6.13 in respect to Mr Andres.
The remuneration arrangements relating to Tim Weller’s retirement will be disclosed in accordance with section 430(2B) of the Companies Act 2006 on Capita's website in due course.
For more information, please contact:
Investor enquiries
Helen Parris, Director of Investor Relations
Email: IRteam@capita.co.uk
Stephanie Little
Deputy Head of Investor Relations
Email: IRteam@capita.co.uk
Media enquiries
Capita external communications
Tel: 0207 654 2399
Email: media@capita.co.uk
Notes to editors
Pablo Andres
Pablo Andres has widespread experience as a senior finance leader in a variety of organisations in adjacent industries. Since November 2020, Pablo has been Group CFO of Ventient Energy S.à r.l., a pan-European renewable energy company, which closed a EUR2.6bn refinancing in December 2023 and is undergoing a merger with Renantis. Prior to Ventient, Pablo was Group Financial Controller of G4S plc from 2013-2020 and CFO of London Stansted Airport from 2011 to 2013. He has also held senior finance roles at BAA, Ferrovial, and Deloitte. Pablo is currently a Non-Executive Director and Chair of the Audit and Risk Committee of the GreenSquareAccord Group.
Capita
Capita is a leading provider of business process services, driven by data, technology and people. Every day our 43,000 colleagues help millions of people, by delivering innovative, digitally enabled solutions to transform and simplify the connections between government and citizens, businesses and customers. We partner with our clients and provide the insight and technologies that give time back, allowing them to focus on what they do best and making people’s lives easier and simpler. We operate across two divisions – Capita Public Service and Capita Experience – in the UK, Europe, India and South Africa.
