Fiberweb, a speciality industrial materials business, has announced that Daniel Abrams, chief financial officer (CFO) since February 2008, will leave the group at the end of March 2012. Abrams joined the group at the earlier stages of its turnaround programme and was a key member of the management team that drove steady performance improvement during 2008-10 and accomplished the transformational sale of Fiberweb’s hygiene business. Following the sale of the hygiene business, the group will become smaller and more focused.
Kate Miles, currently finance director of Fiberweb’s hygiene division, will be promoted to group finance director, effective on Abrams’ departure. Miles joined Fiberweb in September 2006 as group financial controller and was promoted to her current position in October 2010. She qualified as a chartered accountant with Ernst & Young and subsequently worked in positions of increasing responsibility at Reed Elsevier and First Technology.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.