Shares in CT Automotive Group PLC (AIM:CTA) fell 9% to 26.4p after the maker of dashboard panels, arm rests and cup holders said its chief financial officer has resigned with immediate effect.
Salman Mohammed joined the company in October 2023 as finance director and was promoted to CFO a year later.
The board said it is "pleased with the underlying performance of the business" and expects revenues for the year to be in line with market expectations.
CT said its current head of finance, Anshul Gupta, and financial controller, Victoria Thomas, will continue to manage the day-to-day financial operations of the company and will report to the board with the assistance of senior non-executive director Geraint Davies, who is chair of the audit and risk committee.
The board promised a detailed trading update will be released in due course.
Interim results in September revealed revenues and pre-tax profit both down 11% to $54.1 million and £3.4 million, but with eight new contracts worth approximately $37 million annually secured, and the gross profit margin increased by 180 bps to 30.5%.