The Business Insider reported that Official Receiver of British Steel has confirmed that CEO Mr Gerald Reichmann is leaving to take up a new external role in a different sector. As per report “It had already been agreed with Reichmann that having assisted with getting British Steel into a stable position and identifying a preferred buyer with whom the Official Receiver is now in exclusive talks, this would be the appropriate time for him to leave the business.”
A spokesman for the Official Receiver said “We are assisting the preferred bidder for British Steel to complete their due diligence and confirm its sale. The departure of the Chief Executive does not impact upon this process.”
Mr Reichmann was appointed CEO of British Steel in April of this year. He first joined the company in 2017 and previously served as its Chief Financial Officer and Deputy CEO.
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