RS Group PLC (LSE:RS1) is looking for a new CFO after the current incumbent David Egan resigned after disclosing a "personal relationship with a colleague."
Egan is leaving the business with immediate effect after saying there "have been some shortcomings of judgment on my part and my actions have fallen short of the high standards expected of RS leadership."
Rona Fairhead, Chair, said: "Following a thorough review, the board has accepted David's resignation and in stepping down he recognises the importance of leaders setting and abiding by exemplary standards."
Jane Titchener will take over as Interim CFO until a permanent replacement CFO is appointed.
RS said there is no change to profit expectations from that reported in the recent trading update published in April.
Shares in the FTSE-listed firm fell around 4% initially on the news but recovered to trade 1.4% lower late morning.