Stock Spotlight: CEO departure leaves Serco's future uncertain

Rupert Soames to retire

Serco’s chief executive Rupert Soames announced he would be retiring from the firm earlier this month, leaving some analysts concerned as to how Serco would cope without the leader that has been integral to its success and survival.

Soames is stepping down after more than eight years at the company, many of which were spent saving the firm from its 2013 near-collapse. Russ Mould, investment director at AJ Bell, explained that "Soames is widely credited as reviving Serco's fortunes", adding that shareholders had been "disappointed" by his retirement. "Soames, the grandson of Sir Winston Churchill, took on one of the largest turnaround stories on the market and has since put the business back on the right path," Mould said. Chris Field, co-manager on the Liontrust Global Fundamental Team, agreed, stating: "Ruper...