Ex-Finance Chief of Carillion Receives 11-Year Ban from Boardroom Roles

Zafar Khan, the former finance chief of Carillion, has been banned from boardrooms for 11 years due to his involvement in one of the UK’s most significant corporate failures.

Khan, who was the finance director of the outsourcing giant for less than a year, is now prevented from holding any company directorships for over a decade.

Carillion, a construction group responsible for projects such as building hospitals and roads, collapsed in early 2018 with debts of approximately £7 billion. The company’s collapse resulted in job losses and significant delays in planned developments.

The Insolvency Service has accepted a disqualification undertaking from Khan, citing his conduct as a director of Carillion. The spokesman declined further comment due to ongoing litigation against other directors.

Ban: Zafar Khan, who served as Carillion’s finance director for less than a year before it imploded, has been blocked from holding company directorships

Last year, Khan, along with chief executive Richard Howson and Richard Adam, the former finance chief of Carillion, were collectively fined nearly £1 million for issuing misleading statements about the company’s finances.

According to Ben Drew, a partner at the law firm Fladgate, Khan’s ban is an example of the Insolvency Service demonstrating its authority.

In response, Khan stated: “I have decided, in the interests of my family and to bring this process to a close, to undertake not to act as a director. When I accepted the role, I was aware of the significant challenges faced by the group, and I dedicated all my efforts to overcoming them. I regret that I was unable to make a significant impact during my short tenure.”