Indian firm's UK CFO goes back to school
The British CFO of Indian FTSE 100 company Essar Energy has resigned his position just five months after taking the job, in order to go back to school.
Gerry Bacon is to study art history at Reading University, a decision made in June following the £1.3bn flotation of the firm. Bacon joined Essar Energy in January 2010 to support its public offer in the UK and put in place the finance organisation for the new company.
"He has decided to return to academia," said a company statement. Bacon will be replaced by the current finance director of the Essar Oil division, P Sampath. Sampath's appointment will be effective from September 1 2010. He will be based at the group's offices in London and will report to Naresh Nayyar, Chief Executive Officer.
Before becoming CFO of Essar Oil, Sampath held a number of senior finance roles, including that of Group CFO for RPG Enterprises, and was Managing Director of GHCL. A Commerce graduate from the Madras University, Sampath is Fellow Member of the Institute of Cost Works Accountants of India as well as the Institute of Company Secretaries of India.
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