Carillion directors face MPs’ grilling
The former directors of Carillion are being questioned by MPs today over the collapse of the UK’s second biggest construction company.
The Work and Pensions Committee and the Business, Energy and Industrial Strategy Committee is grilling the directors on the culture, governance, business model and operations of the company, while the chair of its remuneration committee is also appearing.
Facing the MPs’ committees are:
- Keith Cochrane, CEO, 10 July 2017 – 15 January 2018;
- Zafar Khan, CFO, 1 January 2017 – 11 September 2017;
- Emma Mercer, CFO, 11 September 2017 – 15 January 2018;
- Philip Green CBE, chairman, May 2014 – January 2018;
- Richard Adam, finance director, April 2007 – December 2016;
- Richard Howson, chief executive, December 2009 – July 2017;
- Alison Horner, chair of remuneration committee, December 2013 – January 2018.
The directors will be questioned on: the foreseeability of collapse; their accounting practices; risky contracts; levels of borrowing; dividends, salary and bonus pay outs; and the massive pension deficit, which increased substantially over a 10-year period.