Investors gave a thumbs up to Kainos Group PLC's (LSE:KNOS) news it bringing former CEO Brendan Mooney back.
Mooney, who led the IT products and services provider for 22 years until September 2023, will replace Russell Sloan, who it said is stepping down with immediate effect.
Kainos issued profit warnings in September and October, where it cited slow decision-making from public sector-facing clients.
On Wednesday, it said the board's expectations of trading for the year ending 31 March 2025 are unchanged from the interim results a month ago.
Sloan, who took over from Mooney as CEO in September 2023, has been with the group since 1999.
Chair Rosaleen Blair said Mooney's "knowledge of the group, its challenges and opportunities is unsurpassed and we look forward to a clear focus on a return to growth".
Mooney said he sees "significant growth opportunities ahead for Kainos" and that his time since stepping down as CEO has given him "a fresh perspective on Kainos and its potential".