Thursday, 16 November 2017

Engineering giant GKN new chief leaves before starting role

Engineering giant GKN has said its new chief executive is to leave the company before even taking up the role.

Kevin Cummings had been due to assume the role on 1 January, but the company said it was now looking for "alternative leadership".

The move came as GKN announced another write-down at its aerospace division, which Mr Cummings used to head.

GKN said it would take a further charge of up to £130m at its North American aerospace unit.
Shares in GKN sank more than 7% on the news.

BBC     News.