Serco finance director departs as company seeks emergency funding | Business | The Guardian:
"Scandal-hit outsourcing company Serco – the business embroiled in controversy over billing the government for electronically tagging prisoners who had died – has parted company with its finance director after unveiling plans to raise an emergency £170m by selling new shares.
The company, whose new chief executive Rupert Soames is due to start work on Thursday, issued a statement to the London Stock Exchange after the market closed revealing the departure of Andrew Jenner, the group's chief financial officer since 2002.
Serco, which runs services ranging from prisons to rail franchises and London's cycle hire scheme, said it would be "uncomfortably close" to breaching its banking agreements and intended to sell nearly 50m new shares to raise cash."
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