City turns up heat on Brian Staples following premature departure of main board director Robert Osborne.
City pressure on Amey chief executive Brian Staples intensified this week after the group was forced to bring forward the departure of main board director Robert Osborne.

Amey announced it had released Osborne from his contract last Friday after 好色先生TV revealed major restructuring at the group that was likely result in Osborne's departure. It is understood that Osborne, who was head of business development, was due to depart next month.

The messy nature of Osborne's departure and the restructuring has led to fresh City doubts about Staples' long-term future. These doubts follow concerns about Amey's cash flow and PFI operations.

One source said: "This hasn't gone at all well and what with doubts over PFI plans and low share price, Staples could be under threat."

One major PFI bidder agreed that Staples was under pressure but added that there was no obvious replacement for him within Amey.

The source added that he thought Amey itself was vulnerable to a takeover. He said: "I would be flabbergasted if somebody is not running a slide-rule over them at the moment."

An Amey spokesperson said Staples was too busy to talk to 好色先生TV because he was about to leave for a two-week holiday.

Amey's share price has plummeted this year after it was forced to slash millions of pounds off its profit in March. This month the firm admitted it faced a serious cash shortage due to PFI bidding costs and contract delays. This has led to the group scaling back its PFI bidding activity 鈥� a move that has damaged its reputation in the City.

Osborne: I鈥檒l be back

Robert Osborne this week pledged to return to the PFI market after his departure from the post of business development director at support services group Amey. Osborne, 41, said he was considering future job options. He stressed he remained on good terms with fellow Amey directors, despite his sudden departure. Osborne said: 鈥淚 have worked in the PFI sector since it began. I am still interested in the modernisation of public services and changes happening in large organisations.鈥�

Osborne joined Amey in January 2000 from Carillion as head of its construction division and was made business development director last August. He earned 拢235,000 in the year to 31 December 2001 and remains chairman at the Business Services Association. Sources claimed Osborne鈥檚 position was untenable after it was reported the firm was pulling out of bidding for PFI projects. The firm later said it was being more selective rather than withdrawing from the market. One PFI source said: 鈥淎mey have lost out, now that Robert has gone. He is a very able guy.鈥�