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[8] [15] In November 2014, its share price, which stood at 674p before the taxpayer scandal broke in 2013, [8] collapsed to 218.7p, after four profit warnings. That same month, it was announced that Alastair Lyons , the chairman of Serco, was resigning from his position. [ 16 ]
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Serko was founded in 2007 by Darrin Grafton and Robert Shaw, based on a previous business idea. In 2012 Serko received a $2.3 million NZD grant from Callaghan Innovation, [5] the R&D investment arm of the New Zealand Government, and commenced an international expansion, opening a development office in Xi'an, China.
Serco employs some 600 to 650 mariners and engineers. [2] [3] The ships Kingdom of Fife and Cameron are provided by Briggs Marine who won a £100M subcontract from Serco Marine Services for the support and maintenance of the Royal Navy's navigational marks (or buoys) and moorings in the United Kingdom and overseas. [1] [4]