May Gurney chief leaves
As a result, the firm has set aside a £10m one-off charge to cover those costs, but it also said the overall group will “significantly under-perform its original expectations for the current year”.
Fellowes-Prynne is leaving the company by mutual consent and with immediate effect, the firm said.
He will be replaced by current non-executive director Willie MacDiarmid on an interim basis. “His depth of operational experience will be invaluable over the next period as we move to secure a permanent CEO,” said May Gurney chairman, Baroness Ford.