12th Jul 2022 14:01
Cornerstone FS PLC - London-based cloud-based payment services provider - Announces surprise resignation of Chief Executive Officer Julian Wheatland, with immediate effect and without a replacement, a day after posting an optimistic outlook.
"He has agreed to facilitate an orderly handover of his responsibilities to the wider management team and has agreed to make himself available to assist the company as required," Cornerstone explains. The firm is now searching for a new CEO. Wheatland says he is moving on to new opportunities. "The underlying business at Cornerstone is strong and well positioned for growth," he adds.
On Monday, Cornerstone had said it expects interim revenue to double in the first half of 2022, to GBP1.9 million from GBP837,000 a year prior. It said it is on-track to deliver substantial revenue growth for 2022 as a whole, in line with expectations.
Current stock price: 12.33 pence, down 26% on Tuesday
12-month change: down 68%
By Tom Budszus; [email protected]
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