Bloomberg News

Circle Holdings Names Melton Interim CEO After Ali Parsa Resigns

December 04, 2012

Circle Holdings Plc (CIRC) Chief Executive Officer Ali Parsa relinquished his post, and the U.K. hospital company said Steve Melton will replace him on an interim basis.

Parsa, a 47-year-old former Goldman Sachs Group Inc. banker and a founder of the company, is leaving by “mutual” decision to pursue other projects, Circle spokeswoman Christina Robinson said by phone. He will remain a non-executive director and the company will search for a permanent successor, she said.

Melton, 50, joined the company in 2008 and led the opening of Circle’s hospitals in Bath and Reading, England, the London- based company said in a statement. He is the company’s head of mobilization as well as a director of Nations Healthcare Ltd. and several affiliates of Circle. He has a 1.5 percent stake in Circle Partnership Ltd., a unit of Circle Holdings, the company said.

Circle also runs a U.K. government hospital in Hinchingbrooke, England that it took over from the National Health Service in February, the first NHS district hospital to be operated as a franchise. The hospital was running a deficit of more than twice that planned in the first half of its fiscal year, a government auditor said on Nov. 8.

The stock, which began trading in June 2011, has dropped 58 percent this year.

To contact the reporter on this story: Andrea Gerlin in London at agerlin@bloomberg.net

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net


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