Richard Adam, ex-chief executive Richard Howson and chairman Philip Green were singled out by MPs
Former Carillion finance boss Richard Adam has rejected claims made by the MPs running the inquiry into Carillion鈥檚 collapse that he was a central figure in the firm鈥檚 failure.
Adam, along with ex-chief executive Richard Howson and chairman Philip Green bore the brunt of the MPs ire in the 100-page report on the .
Adam said: 鈥淒espite retiring over a year before Carillion went into insolvency, I am deeply saddened by the events that have since overtaken the company.
鈥淭he reasons for the collapse are clearly complex, however, I reject the unwarranted conclusions the committees have reached concerning my role at the company.
鈥淚 have objected to the committees about quotes that they have misattributed to me. I look forward to contributing to the due process and conclusion of the various investigations that are still ongoing.鈥�
The findings labelled Adam as the 鈥渄ominant personality in Carillion鈥檚 finance department鈥� who was the 鈥渁rchitect of Carillion鈥檚 aggressive accounting policies [who] resolutely refused to make adequate contributions to the company鈥檚 pensions schemes鈥�.
The report said: 鈥淗is voluntary departure at the end of 2016 was, for him, perfectly timed. He then sold all his Carillion shares for 拢776,000 just before the wheels began very publicly coming off and their value plummeted.
鈥淭hese were the actions of a man who knew exactly where the company was heading once it was no longer propped up by his accounting tricks.鈥�
Chairman Philip Green who was labelled an 鈥渦nquestioning optimist鈥� that 鈥渕aintained a delusional, upbeat assessment of the company鈥檚 prospects only days before it began its public decline鈥� has also taken opposition to some of the commission鈥檚 findings.
Green said: 鈥淭he board always sought to make decisions on the best available information and with the best professional advice; furthermore we always strived to act in the interests of the company and all its stakeholders.
鈥淲hilst much of the commentary in today鈥檚 report fails to understand and accurately reflect the true, more complex picture of events, the committee has highlighted lessons which can be learnt by the board, the government and the wider industry.
鈥淎s the former chairman, I鈥檓 grateful for the on-going hard work of Carillion staff who have been working hard to minimise disruption.鈥�
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