Executive director Peter Neighbour is to leave Oxfordshire-based environmental services company Fountains with immediate effect.
Neighbour’s departure comes as part of a restructuring of the company. Chairman and chief executive Barry Gamble becomes executive chairman, while group finance director Doug Eadie will take up a new post as UK chief operating officer. Matthew Turnock has been made chief financial officer — a non-board appointment.
Fountains issued a profits warning in August ahead of its end-of-year results, which are due shortly, blaming hold-ups to rail and utility vegetation management contracts (HW, 1 September).
Gamble told HW: “The company is not hitting its forecasts. But as well as running the existing business, we are trying to gear up for acquisitions, and that has meant some restructuring.”
Meanwhile, Fountains has purchased US-based geographic information services firm Applied GIS Inc, which will now trade as Fountains Spatial.
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