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514.50 -12.50 (-2.37%)

Bid:

513.50

Ask:

515.50

Spread: 2.00 (0.389%)

Market Cap: £1.10b

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CPPGroup Appoints Stephen Callaghan As Interim Chief Executive

Wed, 15th Apr 2015 08:25

LONDON (Alliance News) - CPPGroup PLC Wednesday said it will appoint Stephen Callaghan as its new chief executive on an interim basis, meaning that Eric Anstee's chairmanship will revert to being non-executive.

The company said it will continue to look for someone who can become chief executive on a permanent basis.

Callaghan holds non-executive directorships as mobile paid content company Lumata Holdings Ltd, commercial radar business Navtech Radar Ltd, and AIM-listed fuel cell developer Ceres Power Holdings PLC.

"CPP is a resilient business emerging from a challenging period in its history. My role will be to harness the considerable strengths of the group and drive the business forward to the next stage of its development," Callaghan said.

CPPGroup shares were trading up 10% at 5.06 pence Wednesday morning.

By Samuel Agini; samagini@alliancenews.com; @samuelagini