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fines and suspensions from holding certain positions). In
January 2021, the Insolvency Service said it would seek to ban eight former Carillion directors, including Khan, from holding senior boardroom positions. In July 2022, the FCA announced it had decided to fine Khan £154,400. The former director was appealing against the penalty. In July 2023, it was announced by the Insolvency Service that Khan had been disqualified from acting as a director of a company for 11 years.
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167:"Zafar Khan failed to get a grip on Carillion’s aggressive accounting policies or make any progress in reducing the company’s debt. He took on the role of Finance Director when the company was already in deep trouble, but he should not be absolved of responsibility. He signed off the 2016 accounts that presented an extraordinarily optimistic view of the company’s health, and were soon exposed as such."
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said some
Carillion directors had "acted recklessly" and released "misleadingly positive" market updates before it collapsed. As a result, the FCA said it had sent notices to some (unnamed) former Carillion directors warning of possible enforcement action (possible sanctions include public censure,
160:). The investigation, confirmed on 19 March 2018, would focus on the preparation and approval of Carillion's financial reports for 2014, 2015 and 2016, and the six months to 30 June 2017, as well as provision of other financial information from 2014 to 2017.
149:, chair of the business committee, suggested Khan "fell asleep at the wheel" during his tenure. Khan told the committee he thought he had "spooked the board with results of the contract review".
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Khan was succeeded as chief financial office by Emma Mercer, who had worked for
Carillion in a decade-long career. Khan would continue to receive his salary of £425,000 until July 2018.
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from 1 January to 11 September 2017, shortly before it went into liquidation in
January 2018. In July 2023, Khan was disqualified from acting as a director of a company for 11 years.
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joining
Carillon in 2011, as finance director for the Middle East and North Africa business, and was its group financial controller from 2013. Khan was the finance director of
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Khan was criticised in the final report of the
Parliamentary inquiry into the collapse of Carillion, published on 16 May 2018. The report concluded:
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should consider whether the former
Carillion directors, including Khan, could be disqualified from acting as a director. In November 2020, the
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Carillion: Second Joint report from the
Business, Energy and Industrial Strategy and Work and Pensions Committees of Session 2017–19
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Carillion: Second Joint report from the
Business, Energy and Industrial Strategy and Work and Pensions Committees of Session 2017–19
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from August 2016 to 11 September 2017 (and a main board director from 1 January to 11 September 2017), and succeeded "long-serving"
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Khan was one of six
Carillion directors who appeared before House of Commons select committee hearings on 6 February 2018.
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156:'s conduct committee would announce an investigation into the conduct of Richard Adam and Zafar Khan (both members of the
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443:"Legal bid launched to ban ex-Carillion directors from top boardroom roles"
417:"Carillion directors 'recklessly' misled the market, says watchdog"
311:"Former Carillion finance directors expected to face investigation"
285:"MPs slam former Carillion bosses as firm's problems are revealed"
201:"CARILLION PLC - Officers (free information from Companies House)"
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This United Kingdom business-related biographical article is a
547:"Ex-Carillion finance chief given 11-year company director ban"
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495:"Three former Carillion bosses fined £870k by watchdog"
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Institute of Chartered Accountants in England and Wales
337:"FRC launches probe into Carillion finance directors"
259:"Carillion collapse: The key personnel at the firm"
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396:. London: House of Commons. 2018. p. 93
369:. London: House of Commons. 2018. p. 90
116:Khan trained as a chartered accountant with
152:On 17 March 2018, it was reported that the
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468:"Carillion directors face boardroom bans"
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171:The report also recommended that the
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415:Price, David (13 November 2020).
665:British business biography stubs
660:British chief financial officers
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231:"Executive Profile: Zafar Khan"
519:Stein, Joshua (28 July 2022).
335:Morby, Aaron (19 March 2018).
283:Tute, Ryan (6 February 2018).
42:August 1968 (age 56)
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493:Prior, Grant (28 July 2022).
588:. You can help Knowledge by
645:British corporate directors
545:Davies, Rob (3 July 2023).
289:Infrastructure Intelligence
177:Financial Conduct Authority
154:Financial Reporting Council
18:Zafar Khan (disambiguation)
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205:beta.companieshouse.gov.uk
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66:former finance director,
129:Associated British Ports
472:The Construction Index
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173:Insolvency Service
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474:. 14 January 2021
421:Construction News
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553:. Guardian
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184:References
55:Occupation
29:Zafar Khan
133:Carillion
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