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
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).
Top 10 stocks with highest growth over past decade - from Nvidia, Microsoft to Netflix, which companies made you the most money?
We reveal the 10 global companies with the biggest returns since 2013. One firm has posted an astonishing 9,870% return, meaning a £1,000 investment would now be worth almost £82,000.
By Ruth Emery Published
BoE: Millions of mortgage borrowers will be hit with higher repayments next year
News Higher interest rates are yet to fully hit households and monthly mortgage repayments will rise between £200 and £1,000 – how much will your home loan go up by?
By Marc Shoffman Published