Redstone CFO to resign following successful demerger

28th Jun 2013 07:14

The Chief Financial Officer (CFO) of AIM-listed infrastructure and support services provider Redstone, has given notice of his resignation following the completion of the company's demerger.Peter Hallett has been with the business for over four years during which time he completed the restructuring of Redstone and the demerger and flotation of Redcentric. The company said that he would have a 12-month notice period and would remain as CFO of the company until a successor had been recruited. Hallett joined the Redstone board in 2009 having worked with the business as a consultant on behalf of its bank since 2008 as an interim and turnaround specialist. The company said he had been "instrumental" in the refinancing and restructuring of the business which has now been completed. David Payne, Chairman of Redstone, said: "The board would like to thank Peter for all that he has done for the business during his tenure. His work in restructuring and refinancing the business has been outstanding and we wish him all the very best for the future." Hallett commented: "It has been a pleasure to successfully oversee both the turnaround of Redstone and the successful demerger and flotation of Redcentric." He added: "Both businesses are now leaders in their respective fields and I feel that my work will be complete following a thorough handover to my successor. I wish both businesses every success in the future and wish to thank both companies' employees, customers, suppliers, shareholders and bankers for all contributing towards this success."MF