Jarvis finance chief steps down

Jarvis finance director Alistair Rae is to stand down having decided that he does not want to move north when Jarvis transfers from London to its new headquarters in York.

Rae will leave the group in the near future, handing over the reins to Alastair Marnoch. Kjell Karlsen will become deputy finance director.

Steven Norris, chairman, said that Rae did crucial work when he took over the finance function at a critical time in the company’s history. “He made a significant contribution to the group’s ability to survive over the last 12 months,” Norris said.

Rae joined Jarvis in 2001 as head of corporate affairs and was largely responsible for investor relations. In April 2004 he became acting finance director after the departure of Robert Kendall, taking over the post fully five months later.

“Alistair has been central to maintaining the support of [Jarvis’s] lenders and agreeing extensions of their facilities,” said Alan Lovell, chief executive.