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The Financial Director interview - Change of Gear.

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| May 01, 2004 | COPYRIGHT 2004 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Financial Director)

Byline: Sarah Perrin.

Three-times turnaround king Richard Pennycook has exchanged unpredictability for stability, and crisis talks with bankers for expansion planning. As group finance director of RAC plc, he enjoys managing a brand that other FDs would love to get their hands - and balance sheets - on.

Pennycook joined RAC last August after completing his third turnaround in a row with the sale of HP Bulmer, the cider-maker, to Scottish & Newcastle.

This followed four years working on the turnaround of motorway services group Welcome Break (as finance director and then chief executive), and before that an ...

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