Capita chief executive Paul Pindar is to leave the firm after more than a quarter of a century to focus on private equity investments in SMBs.
Pindar (pictured) will depart the outsourcing giant on 28 February, to be replaced by current deputy chief executive and joint chief operating officer Andy Parker. Replacing the incoming chief as joint COO will be Dawn Marriott-Sims, who is also to join the Capita board.
"I am delighted to have the opportunity to lead Capita through the next stage of its growth and development," said Parker. "Paul has established an exceptional team and track record and I look forward to working with the board and all my colleagues to build on this going forward."
Pindar joined the London-listed firm in 1987, and has spent a cumulative total of 22 years in the roles of managing director and chief executive. From March he will begin building a roster of private equity investments, through which he hopes to help smaller firms grow.
"I will be leaving Capita with a strong management team and in excellent financial and operational shape for further success in 2014 and beyond," said Pindar. "Andy will bring a wealth of experience to his new role as chief executive and I wish him and the whole Capita team all the very best in taking the company forward."
The outsourcing monolith also issued an interim management statement today, painting an upbeat picture of the year so far. According to the statement, the firm has won £2.9bn worth of deals so far in 2013, with 95 per cent coming from new customers and five per cent from renewals. Capita's opportunity pipeline stands at £4.2bn, just as it did in the update issued in July. The company is expecting to enjoy organic sales growth of eight per cent this year, up from the three per cent level it posted in 2012.
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