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
-
Nationwide: UK house prices creep up by 0.2% - are we heading for a rebound?Nationwide’s latest house price index shows property prices inched up by 0.2% as demand warms up - will this trend go into 2024?
-
December 2023 NS&I Premium Bond winners revealed - have you won the jackpot?
Two Premium Bond holders are now millionaires as NS&I reveals December winners. Find out if you’re one of them
