Eddie Stobart’s chief executive, Alex Laffey is to step down with immediate affect, and the company’s shares have been suspended as Stobart are to do an accounting review.
Stobart are waiting for clarification over the impact of the review with auditors, and the accounting review is expected to affect the company’s earnings for the first half of the year.
Whilst Eddie Stobart are waiting for the results of the review, they have applied for their shares to be suspended on London’s junior market.
Sebastien Desreumaux, currently chief executive of its iForce business and head of contract logistics is t takeover Laffey’s position.
Eddie Stobart said, “The board has full confidence in the ability of Eddie Stobart’s management team to deliver an improved performance for the group going forward, and remains confident in the strength of the underlying business.”