TV and multimedia content producer, Ten Alps PLC (LONL:TAL), says it has accepted the resignation of its chief executive, Mark Wood, who is to step down with immediate effect.
The company – which trades as Zinc Media – says Wood will continue to act as an advisor to the board.
“We thank Mark for his contributions to the group and wish him every success in his future endeavours," said Peter Bertram, chairman of Ten Alps.
Ten Alps says it has no immediate intentions to appoint a new chief executive.
Bertram will spend more time in the business, while chief financial officer David Galan will take on additional responsibilities to cover Wood’s departure.
Wood was appointed chief executive of the company in December 2014, having previously held the same position at Future PLC (LON:FUTR).
The group has endured a difficult 2016 so far, having issued a profit warning in May saying that it expected full year results “to fall materially behind expectations”.
Shares were down 26.4%, or 0.21p, to 0.51p.