Tim Sharp
City Editor
FORMER Stagecoach chief executive Mike Kinski has been propelled into the
limelight after private equity firm Terra Firma appointed him as part of a
triumvirate to oversee a new $2 billion (£1.2bn) Renewable Energy
Infrastructure Fund (REIF).
The move follows the surprise departure of Damian Darragh, regarded as a
star manager at Terra Firma, which is controlled by financier Guy Hands.
Mr Darragh had been due to head up the fund alongside six other people.
Mr Kinski, a former executive at ScottishPower succeeded founder Brian
Souter at Perth-based Stagecoach in 1998. He lasted just two years having
endured a set of profit warnings in the wake of its £750 million
acquisition of Coach USA.
But he has since built a career over 14 years at Terra Firma, where he is
operational managing director.
He has been involved with a number of its investments including chairing
wind power company Infinis before its stock market listing last year. He
remains on its board.
Terra Firma said that it had asked Mr Darragh to leave after a review which
is understood to have considered his fundraising and leadership skills.
It turned to Mr Kinski, who had both fundraising and corporate management
experience to serve alongside recent hires Stefan Thiele and Ingmar Wilhelm
in jointly leading its renewable energy infrastructure team.
“Mike, Stefan and Ingmar have outstanding financial, operational and
transactional skills,” Terra Firma said.
Mr Kinski joined Terra Firma in 2000 after leaving Stagecoach. He had
previously been chief executive of power distribution and water operations
for ScottishPower.
Mr Hands and Mr Darragh were colleagues at Japanese bank Nomura before
founding Terra Firma in 1994.
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