K3 Business Technology Group PLC - business-critical software solutions provider focusing on fashion and apparel brands - Chief Executive Officer Marco Vergani stepping down from company. Non-Executive Chair Tom Crawford takes up role of executive chair. Changes took effect on Monday, K3 says. It adds: "The management changes create new reporting lines and devolve greater responsibility to the leadership teams within the group's businesses, which are separately managed and respectively address different market sectors. It reflects the Board's strategy to further simplify operations, more effectively address the opportunities within market sectors, and to drive shareholder value."
K3 says on track to generate an adjusted operating profit in line with the market forecast. Says final quarter of year to November 30 is typically strongest.
Current stock price: 112.00 pence
12-month change: down 5.9%
By Eric Cunha, Alliance News news editor
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K3 Business Technology Group (KBT)