July 18, 2018 / 2:30 PM / a year ago

British outsourcer Capita's CFO Nick Greatorex steps down

(Reuters) - British outsourcing company Capita plc’s (CPI.L) chief financial officer Nick Greatorex is stepping down at a time when the company is looking to cut costs and pay down debt.

Capita, which provides IT-led services for the public and private sector and which ran into problems chasing contracts on slim margins, has a new chief executive, Jon Lewis, who took over in December.

The company, expects to raise more than 400 million pounds from non-core asset disposals in 2018.

It was forced to raise 701 million pounds from investors in May after a series of profit warnings.

Greatorex will remain with Capita over the coming months, the company said, adding that a search for a new CFO is under way.

Shares of the company were down 3.2 percent at 1425 GMT, and was among the top losers on FTSE midcap index. .FTMC

Reporting by Justin George Varghese in Bengaluru; Editing by Adrian Croft and Alexandra Hudson

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