(Alliance News) - Argentex Group PLC on Thursday announced that Chief Financial Officer Jo Stent has left its board effective immediately, but agreed to work until the company finds a suitable replacement.
Argentex shares fell 21% to 62.04 pence each on Thursday afternoon in London.
Two weeks ago, the international provider of foreign exchange services for institutions, corporates and high-net-worth private individuals announced that former chief executive officer Harry Adams stepped down, with Jim Ormonde becoming CEO on an interim basis.
In October, Chair Nigel Railton had said: "We have recently conducted a review of Argentex's strategy and have identified a number of areas of focus to ensure the continued growth of the business."
In September, the company had reported that in the first half of 2023, pretax profit grew 12% to GBP4.8 million from GBP4.3 million a year prior, as revenue climbed 28% to GBP25.0 million from GBP19.5 million. In its outlook, it had said that it traded in line with its own expectations for 2023.
By Tom Budszus, Alliance News reporter
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Argentex Group. (AGFX)