Top directors at airline caterer Alpha Airports resign

Two directors at Alpha Airports have resigned today because of an investigation into the company’s last results announcement.
 
Chief executive Kevin Abbott and finance director Heather McRae decided to quit as a result of the ongoing investigation.
 
Peter Williams, ex head of Selfridges, has been appointed chief executive and Tim Redburn will take over as finance director on an interim basis until a permanent successor is found. 

The airline caterer has already admitted that it was due to legal uncertainty surrounding one of its contracts that it pulled its shares from the London Stock Exchange in April.

The group said there was doubt over whether a major contract, which began in October 2005, was a genuine transaction.

Trading in its shares was suspended when accountant PricewaterhouseCoopers refused to sign off its accounts for 2005 due to the irregularity.

Williams and Redburn will be joining the special committee, which is investigating the company’s accounts with PricewaterhouseCoopers.
 
Legal uncertainty leads to Alpha Airports pulling shares >>

Alpha admits European fraud may cost £2.5m >>

Alpha investigating fraud >>

Profits fall at Alpha >>

By James Garner
 

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