(Sharecast News) - Media group Future tanked on Tuesday following a report that chief executive Zillah Byng-Thorne has informed the company's chairman that she plans to retire in the next 18 months.
Sky News reported over the weekend that Byng-Thorne, who has been CEO since April 2014, is expected to step down in the second half of 2023.
It was understood that a formal search process for her successor has yet to be initiated by chairman Richard Huntingford.
Last week, Byng-Thorne was appointed deputy chair of online review platform Trustpilot. According to Sky, City insiders expect her to replace chairman Tim Weller in due course.
At 0825 BST, Future shares were down 16% at 1,396p.
Future (FUTR)