André Brown, the chief executive and founder of online merchandising specialist ATTRAQT Group plc (LON:ATQT), has stepped down from his role with immediate effect.
Non-executive chairman Nick Habgood will temporarily take over the reins as interim executive chairman while the search for a new CEO is carried out.
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Brown was one of the original founders of the business back in 2003 and oversaw the group’s admission to AIM in 2014.
“The board would like to thank André for his considerable contribution and wish him every success for the future.”
News of Brown’s departure was accompanied with a brief trading statement in which ATTRAQT said trading in the final two months of 2017 had been in line with expectations.
As a result, it expects to have generated revenues of between £1.35mln and £13.6mln last year. As of January 12, ATTRAQT had more than £2mln of cash in the bank.
READ: ATTRAQT Group expects lower revenues for 2017 after review but sales pipeline remains strong
“The market demand remains strong for ATTRAQT with research from the British Retail Consortium showing that overall online sales across the Christmas trading period rose by 7.6 per cent.”
Full-year results are expected to be published on March 8.
Shares opened 0.3% down at 31.4p.