Gleeds has announced the appointment of a new chief finance and operating officer amid a consultancy restructure that will see two directors leave the firm.
Salar Farzad takes up the role of CFOO having been interim chief financial officer at the firm since March.
Prior to that he was a non-executive director and chairman of the audit committee at Keystone Law.
In his new role Farzad will “spearhead a realignment of core functions, bringing multiple entities under one umbrella”, said Gleeds.
As part of the restructure, group executive director, Douglas McCormick, and regional managing director – London, Steven Mason, will leave the business to pursue new opportunities.
It is understood up to 40 roles at Gleeds could be cut as part of the restructure, according to Building.
A company spokesperson said the majority of those leaving the business are based in the UK, however there also are some leavers in the US.
“I am determined that Gleeds are able to move forward with a structure that allows us to harness our independence and to better serve our clients in an ever-changing market – ensuring agility, resilience and responsiveness,” said Graham Harle, CEO at Gleeds.
“Our new CFOO, Salar Farzad brings with him a wealth of experience – not only in the financial sphere – and alongside myself and the Executive Management Board, will be instrumental in delivering the new organisational framework.”
Adding: “We want to wish Douglas […] and Steve well in their future endeavours.”
Was this interesting? Try Residential work boosts Roger Bullivant profits
If you have a tip or story idea that fits with our publication, please contact the head of editorial firstname.lastname@example.org
Get industry news in 5 minutes!
A daily email that makes industry news enjoyable. It’s completely free.