The CEO of Close Brothers Group plc has taken a temporary medical leave of absence from the business.
The merchant banking group has arranged cover for Adrian Sainsbury ahead of the publication of its full-year results this week.
“The group has put in place robust temporary cover arrangements to ensure continuity in the delivery of the group’s strategy during this period,” it stated.
“Mike Morgan, group finance director, will assume Adrian’s principal responsibilities supported by the chairman, Mike Biggs, and members of the senior management team.”
The group’s scheduled announcement will proceed as planned on Thursday 19th September, hosted by Morgan. Profits are expected to be around £73 million, down 22% from H1.
Shares in the group have rallied – currently standing at 528p – since hitting a 30-year low of around 300p in February amid a probe into the car finance industry, to which it has great exposure.
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