The Chief Executive Officer (CEO) of translation and communications software group SDL is leaving the company with immediate effect to "pursue other business interests".
John Hunter, only stepped up from being Chief Financial Officer in February 2011. Mark Lancaster, currently Chairman of SDL will assume the role of CEO, while the company looks for a replacement.
His sudden departure follows a disappointing third quarter trading update on October 15th, which showed that the slowdown in technology revenue growth continued into the third quarter.
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
At the time, it led Investec to reducing its 2012 and 2013 pre-tax profit forecasts by 4% and 5%, respectively.
Consensus estimates for the current year, ending December 31st are for pre-tax profits of £40.26m on turnover of £268.2m.
CM
-
British Airways revamps Avios scheme bringing down flight prices to £1With the new Avios part-payments scheme you can now bag a British Airways flight for as little as £1
-
RBS to close a fifth of branchesRoyal Bank of Scotland plans to shut 18 branches across Scotland, resulting in the loss of 105 jobs. We have the full list of closures.
