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Moves: United Industrial appoints treasurer; Greene King loses FD

Stuart Gray has been named treasurer of United Industrial, the US defence systems producer.

Gray will oversee the corporate treasury function and investor relations activities previously performed by James Perry, UIC vice president and chief financial officer, who until now also held the position of treasurer.

"His 22 years in such areas as corporate finance, working capital improvement, cost control, and mergers and acquisitions will be valuable to UIC's overall strategies for maximizing shareholder value," said Perry, to whom Gray will report.

Before joining UIC, Gray had been director of corporate finance since 1996 for foam and fibre manufacturer Wm T Burnett and its wholly-owned subsidiary, STX.

In the UK, Michael Shallow is to leave brewing company Greene King after 14 years as finance director to seek new challenges.

The 50 year-old has overseen a number of acquisitions, including the purchase last July of Laurel's 432 pubs for £654 million ($1.25 billion). Analysts have also credited Shallow with budgeting for unforeseen cost increases and overseeing the company's recent complex refinancing. The company said that Shallow would not depart before December.

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