27th Jan 2020 14:11
(Alliance News) - Jaywing PLC said Monday that Executive Chair Martin Boddy has stepped down with immediate effect in order to pursue other interests.
Deputy Chair Ian Robinson will take on the role of non-executive chair on an interim basis, the data and advertising firm said.
An operating executive committee, comprising the two senior executive directors, will report directly to the non-executive chair, the company noted.
The search for a new executive chair is underway, Jaywing said, meanwhile Boddy will continue to support the company for an interim period in order to ensure an orderly transition.
Robinson said: "On behalf of the board, I would like to thank Martin for his contribution to the board and for leading the business over the last eight years. We wish him all the best for the future."
In December, the company announced the departure of its Chief Operating Officer Adrian Langard "by mutual agreement".
The company also posted a pretax loss of GBP1.5 million for the six months ended September 30, almost triple from its GBP567,000 loss a year before. Revenue fell 26% to GBP13.8 million from GBP18.7 million.
Jaywing shares were down 10% at 3.58 pence each in London on Monday.
By Loreta Juodagalvyte; [email protected]
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