In October 2017, the company announced that former Amec Foster Wheeler CEO Jonathan Lewis would take over as CEO from 1 December 2017 following departure of Andy Parker. After completing an initial assessment, on 31 January 2018 Lewis announced a profits warning, dividend suspension, a £700 million rights issue, cost cutting and a disposals programme, as net debts were predicted to hit £1.15 billion and a pensions deficit reached £381 million. The announcement knocked 47% off Capita's shares, reducing its market value by over £1.1 billion. The share price slide continued the following day, losing a further 13%. On 3 April 2018, Capita shares fell 6% to a 20-year low after British Airways decided to retain in-house operation of two UK call centres rather than award contracts to run them to Capita.