LONDON (Alliance News) - Model train sets and miniature cars retailer Hornby PLC on Monday said Chief Executive Richard Ames has stepped down and left the company with immediate effect.
Chairman Roger Canham will become executive chairman and will head the company for the "foreseeable future", the group said.
The departure of Ames comes after the group last week said it would see a "substantially wider" trading loss than previously anticipated for the year to the end of March following weaker than expected sales both in the UK and internationally.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Hornby (HRN)