Shares in YouGov PLC (AIM:YOU) rose 3.2% to 373.56p after it emerged that chief executive Steve Hatch has stepped down with immediate effect, after only a year and a half in the role, with co-founder and chairman Stephan Shakespeare replacing him on an interim basis.
The market research group also provided a trading update revealing "modest growth" in the first half of its financial year, which it said reflected "stabilisation in our core business" and a boos from its CPS acquisition.
The AIM-listed company said its performance was in line with management expectations, following its warning of a sales booking slowdown towards the end of the last financial year.
It said a plan to make £20 million of annual cost savings was "on track", with 70% of savings expected to be achieved in the current financial year, but weighted towards the second half.
"Looking ahead, we are encouraged by the stabilisation we have seen and therefore the group is expecting to deliver continued modest year-on-year revenue growth on a reported basis over the course of the second half of FY25."
Market conditions for the Data Products division "remain challenging with pressure on client budgets and protracted sales cycles", however.
While Shakespeare is returning to the CEO role he held for 10 years previously, the board plans to begin the process of finding someone to fill the role on a permanent basis.
He is taking the role on an interim basis "to ensure continued execution of the strategic plan, support an orderly transition and allow adequate time to recruit the right candidate for the CEO position", YouGov said.
Shakespeare, who is handing over the board chair role to Deborah Davis on an interim basis, said Hatch held the role "during a challenging time for the company" and "played a crucial role in building and leading a strong leadership team and ensuring a smooth integration of the CPS acquisition".