26th Feb 2019 14:33
LONDON (Alliance News) - WYG PLC said on Tuesday that Chief Financial Officer Iain Clarkson has resigned from his role with immediate effect, after the company issued a profit warning two weeks back.
Clarkson has been part of the professional services company since 2016, and prior to that was part of oilfield services firm Amec Foster Wheeler PLC, where he was finance director of its Clean Energy Europe business from 2012 to 2016.
Amec Foster Wheeler was formerly FTSE 250-listed, before being acquired by John Wood Group PLC in October 2017.
WYG said it has taken steps to identify a new chief financial officer, before which the group's finance team will report director to Chief Executive Officer Douglas McCormick.
Earlier in February, WYG warned that operating profit for the year ending March 31 would be below market expectations, as well as it will fail to meet its debt to earnings or interest cover covenants.
The group said it was in talks with its lender to secure a deferral or waiver.
Shares in WYG were 11% lower at 14.21 pence on Tuesday.
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