LONDON (Alliance News) - The Quarto Group Inc, an illustrated book publisher, said Thursday its chief executive officer, Marcus Leaver, is retiring with immediate effect after more than five years.
The company said its executive director Chuk Kin Lau, who was appointed last Thursday, will be made interim CEO while a replacement is sought.
The Times reported on Sunday that Quarto was undergoing a "boardroom coup" led by company founder and executive chairman Laurence Orbach, who owns a reported 20% stake in the publisher.
Orbach credited Leaver with raising Quarto's "profile within the industry."
The stock closed down 4.8% at 110.00 pence on Thursday.