Source - SMW
Driver Group, the global professional services consultancy to construction and engineering industries, has announced changes to its board and the sale of Initiate Consulting.

The group has appointed David Kilgour as chief financial officer.

Driver said that Kilgour  qualified with PwC in 1987 and his subsequent career history includef senior divisional finance roles with AMEC for five years and before that with United Utilities for eight years. 

It said that he would join the group on 6 Nov but in order to ensure a smooth transition, Hugh Cawley would remain as CFO until the announcement of the group's preliminary results for the year ended 30 Sep, expected on or around 12 Dec.

The board also announced that non-executive director Colin Davies would  step down from the board at the end of October.

And the group said that  in line with its expressed strategy of focusing on claims, disputes and expert witness work, it had recently concluded the sale of Initiate Consulting Ltd  to PDSI Limited. 

 It  said the consideration, payable in cash and the amount of which will be finally determined after certification of the completion balance sheet, is expected to be something less than £0.2m, resulting in a non-cash write down of goodwill and intangibles of approximately £0.9m. 

At 9:08am: (LON:DRV) Driver Group PLC share price was 0p at 60.5p