8th Mar 2016 09:21
LONDON (Alliance News) - Asset and energy support services company Lakehouse PLC on Tuesday said its chief executive will step down around a month after the group issued a profit warning.
Sean Birrane will step down from his position and resign from the board following an interim period, handing over to Stuart Black, who will move from executive chairman to CEO.
Chris Geoghegan, senior non-executive director, will become non-executive chairman.
In February, Lakehouse shares lost half their market value after it said budget cuts by its housing association clients resulted in it winning fewer contracts than it had anticipated in the first half of its financial year to the end of September. This will mean its profit for the year will fall against the financial 2015 results.
Lakehouse shares were down 5.1% to 37.95 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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