Alpha's Abbott resigns; ex-Selfridges boss takes reins

John Rimmer

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Alpha Airports CEO Kevin Abbott and the company's finance director Heather McRae have resigned as an investigation into irregularities in Alpha's 2005/6 results continues

Alpha Airports Group CEO Kevin Abbott has resigned with immediate effect, accompanied by the retail and catering group's finance director Heather McRae. The news comes as an investigation continues into irregularities concerning a contract gain made by Alpha last year, causing auditor PricewaterhouseCoopers to withdraw its approval of the company's preliminary 2005/6 results.

Abbott will be replaced by former Selfridges CEO Peter Williams, one of the UK's most renowned retailers. He left Selfridges in February 2004 having joined the company as finance director in 1991.

Tim Redburn has been named Alpha's finance director for an interim period of at least three months while a permanent replacement is found. Redburn, a chartered accountant, is currently chairman of Nightfreight Holding Ltd.

More details and reaction to follow.