Online food delivery firm Just Eat PLC (LON:JE.) has revealed that its chief executive (CEO) David Buttress is to quit his role due to "urgent family matters".
The FTSE 250-listed company said Buttress would step down as CEO at the end of the first-quarter at which time its chairman John Hughes, will temporarily assume the role of executive chairman.
In reaction to the shock news, Just Eat shares topped the mid-cap fallers board in early trading, down around 5.5% at 525p.
In a brief statement, Just Eat said: “The board is commencing an immediate search to find a replacement for David. David has agreed to serve a minimum one-year term as a non-executive director.”
The group added that Hughes will work closely with Buttress and chief financial officer Paul Harrison to ensure a smooth and orderly hand-over.
Hughes said: "I will work closely with Paul Harrison and the rest of the team as we recruit David's successor, and we will provide an update on that process in due course.”
He added: “The company is very strongly positioned for the future."
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