Business
CFO Retirement
Serco Group plc announced that Mark Reid will join the Board as Group Chief Financial Officer on March 6, 2026, succeeding Nigel Crossley who is retiring after 11 years. Reid, formerly Group CFO at Proximus, which generated €6.4bn revenue in 2024, brings over 20 years of international finance experience. His remuneration package includes a basic annual salary of £575,000, an 8% pension contribution, an annual bonus opportunity up to 155% of salary, and an LTIP award of up to 175% of salary. Disclaimer*
About this update from Serco Group Plc
[{"type":"text","content":"\n\n \nMark Reid appointed as Group CFO; Nigel Crossley to retire\n17 December 2025\nSerco Group plc today announces that Mark Reid will join the Board as Group Chief Financial Officer on 6 March 2026 succeeding Nigel Crossley, who is retiring and will step down from the Board on 5 March 2026 after 11 years with the Company.\nMark joins Serco from his role of Group CFO at Proximus, the Belgium telecoms business listed on the Euronext stock exchange. Mark has been with Proximus for nearly five years and during that period he has also held the role of interim CEO of their international division while retaining Group CFO responsibilities. Proximus Group generated €6.4bn revenue in 2024 and has a current market capitalisation of €2.3bn. Mark has over 20 years of international finance experience and previously held senior roles at Liberty Global, Virgin Media, British Airways and Yahoo Inc.\nNigel will step down as Group Chief Financial Officer at the age of 62, having delivered the 2025 results. He will oversee a full handover to Mark, who joins Serco on 9 February 2026 and will become Group Chief Financial Officer and join the Board as an Executive Director on 6 March 2026. \nAnthony Kirby, Group Chief Executive said: \"On behalf of everyone at Serco, I would like to thank Nigel for all his hard work, and financial leadership over the 11 years he has been with us, and for the support he has been to me. He leaves the Group's finances in a great position; we have a strong balance sheet, good cash generation and have delivered revenue, profit and margin growth over recent years, as well as establishing a strong team of finance leaders across the business.\"\nWith regards to Mark's appointment, Anthony said: \"I am delighted we have someone with Mark's skill, background and track record joining Serco. Mark has experience of living and working in North America, Europe and the UK as well as working with government customers and private businesses alike. I am confident he will be a great addition to both the business and the Board.\"\n \nKeith Williams, Chair Designate and Non-Executive Director, said: \"Mark is an experienced CFO with a great background and will be an excellent addition to the Board and the business. On behalf of the Board and all colleagues at Serco, I would like to thank Nigel for his commitm...