Dechra Pharmaceutical's Group Finance Director, Simon Evans, has quit suddenly after 15 years in the job, and won't be sticking around to work with his successor.
In a brief statement the veterinary pharmaceuticals company said: "Simon recognises that following the acquisitions of Eurovet and Vetxx, and their successful integration within the group, it is now time for the company to recruit a new Finance Director with the relevant skills, energy and experience to take the group to its next strategic level. The board has therefore agreed to accept his resignation and that he should leave the board and the company with immediate effect."
While animal pharmaceuticals and veterinary drugs company Dechra searches for a successor, the Group Finance Director role will be fulfilled by Simon's deputy, the Group Financial Controller, Paul Sandland.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The news accompanied a solid interim management statement for the period from July 1st to 19th October, with trading in line with management expectations. Revenue growth in the first quarter was 21.9% ahead of the same period last year (24.9% at constant currency). Excluding Eurovet, the increase was 6% (8.9%) at constant currency).
The best performance was from its US Pharmaceuticals operation, where revenues were 24.8% higher than the first quarter last year (21.9% at constant currency).
CM
