Tungsten CFO to leave group

11th Sep 2020 08:56

(Sharecast News) - Electronic invoicing firm Tungsten said on Friday that chief financial officer Chris Allen had asked to step down from both the board and his role, with immediate effect.
Allen, who will leave Tungsten due to undisclosed personal reasons, will be replaced by chief commercial officer Ian Kelly on an interim basis.

The AIM-listed firm stated it had already begun a formal process to identify and appoint a permanent successor to Allen.

Chief executive Andrew Lemonofides said: "On behalf of the board of directors, I would like to thank Chris for his valuable contribution during his short tenure as CFO, at a time of significant transformation."

As of 0855 BST, Tungsten shares were up 3.25% at 39.44p.