G4S Plans to have Himanshu Raja as New Chief Financial Officer

G4SIn an effort to fight back, chief executive of the troubled security contractor G4S will come up with the first clues about his strategy for the company on Wednesday. Also, it will announce the appointment of a new finance director.

According to Sky News, G4S has plans to announce Himanshu Raja as its next chief financial officer. He has been a real troubleshooter for BT Global Services and Logical during the times it was going through corporate difficulty. He recovered the balance sheets of the company and now, he seems to have a task to help G4S cope with its escalating problems.

Mr. Raja will be joining from Misys. It is the financial software provider that was taken private by Vista Equity Partners last year. It happened only six months after his appointment.

He is expected to join G4S within months. He said that the challenge to help G4s gain its shape again was too big to turn down. G4S is one of the world's largest employers in private sector.

Ashley Almanza was selected as a new chief executive by the company in June. The new finance chief will have to report to him.

"The key question to our minds is how the company plans to deleverage, with disposals likely to be the preferred route albeit we do not think an equity rights issue can be fully discounted at this stage", said Mike Allen, an analyst at Panmure Gordon.