Cape CEO quits

Cape, a provider of non-mechanical support services to the energy and mineral resources sectors, has announced that Martin May is standing down as Chief Executive and as a director of the company with immediate effect to 'pursue a new challenge'.

He is being replaced with non-executive director Brendan Connolly, who will take on the role as acting CEO until a permanent replacement has been found.

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Interim boss Connolly is an energy sector veteran with extensive experience as a senior manager and Chief Executive Officer, Eggar said.

The stock's share price took a sharp dive back in in November on the back of a trading update, but in recent months the stock has regained much of these losses.

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