Last boss of failed Carillion lands new role at engineering firm

Keith Cochrane, who was Carillion’s £750,000-a-year chief executive for seven months before it collapsed in January, has landed a new role as non-executive chairman of Score Group Plc in Peterhead, Scotland.

Score Group provides engineering services related to valves and industrial gas turbines around the world.

Cochrane and fellow Carillion directors were subjected to withering criticism by MPs investigating the business’s collapse this year.

They characterised Carillion’s board as "greed on stilts" when it emerged they had accepted generous bonuses after the shock profit warning in July last year, when the company revealed an £845m writedown to cover problem contracts.

Documents showed Cochrane being awarded a fee of £750,000 a year for his job as interim chief executive.

In their final report, MPs blamed Cochrane for having "quickly succumbed to the dysfunctionality prevalent on the board", adding that he ignored concerns from shareholders about the company’s net debt and its pensions deficit, and "exhibited little challenge or insight".

"We welcome Keith on board and look forward to his input," said Score deputy managing director Conrad Ritchie, reports Energy Voice.

Cochrane formerly led Scottish transport giant Stagecoach Group as chief executive from 2000-02 and Glasgow-based engineering company Weir Group, also as CEO, for seven years.

Since January he has also been non-executive chairman for the logistics and handling firm, Schenck Process.

Carillion’s collapse caused thousands of job losses, the insolvency of a number of subcontractors, and is expected to cost the taxpayer many millions of pounds in redundancy payouts and the cost of completing projects.

Image: Keith Cochrane, who was Carillion’s interim chief executive from July 2017, giving evidence to MPs in February this year

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  1. Same old Same old !!!! jobs for the boys. Why would you trust this man ?

  2. No surprise that one of the Fat Cats surfaces again with a new highly paid job.
    Not much changes in this country eh??

  3. I wonder if the rapid recycling of ‘failed’ senior management is one reason for low productivity in UK enterprises?

    Culture changes emanating from the top of Carillion, from the Mid ’00s onward, seemed to limit training, recruitment and retention in favour of blunt cost limits.

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