21st Nov 2018 10:43
LONDON (Alliance News) - Wey Education PLC on Wednesday promoted two of its directors to the interim roles of chairman and chief executive officer, after its executive chairman was forced to resign due to health problems.
Shares in the company fell 12% trading at 9.93 pence each following the news.
Wey said that Executive Chairman David Massie, who had been working part-time following a open heart surgery, has experienced further complications leading to his immediate resignation from the company.
He will be replaced by Non-Executive Director Barrie Whipp, who will take on the role of interim chairman while the board "considers its next steps".
Meanwhile, Jacqueline Daniell, an executive director of the company, will assume the role of interim CEO. Wey had no CEO previously as Massie was an executive chair.
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WEY.L