Cochrane among ex-Carillion directors facing ban
Keith Cochrane: was on the board at the company
Eight former eight Carillion directors face being banned from holding senior boardroom positions in the UK for up to 15 years.
They include former ScottishPower and Weir group executive Keith Cochrane, who was on the board of Carillion in the final months before its collapse along with former chairman Philip Green and former chief executive Richard Howson.
Kwasi Kwarteng, the new UK Business Secretary, has launched legal proceedings “in the public interest”, the Insolvency Service said.
The move comes three years after Carillion crashed into administration. It was wound up in January 2018, and the Official Receiver submitted a report about the conduct of each director.
The company collapsed three years ago
Thousands of jobs were lost following the collapse of the construction giant, which was one of the biggest corporate failures in the UK.
Mr Kwarteng has decided it would be in the public interest for a court to make an order disqualifying the directors on the grounds of their conduct.
A spokesperson for the Insolvency Service, which handles corporate collapses, said: “We can confirm that on 12 January the Secretary of State issued company director disqualification proceedings in the public interest against eight directors and former directors of Carillion.”
Two ex-finance directors and three boardroom non-executives are also named.They could be banned for between two and 15 years from being directors of firms based in the UK, or from forming or promoting a company in the UK or with connections to it.