Just Eat (JE.) boss David Buttress has announced his intention to step down from his role at the end of the first quarter. At that time chairman John Hughes, who has been in his role for six years, will assume the role of executive chairman. Mr Buttress has agreed to serve as a non-executive director for a minimum of one year, while a search is commenced immediately to find a successor.
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The market took this news badly, sending Just Eat's shares down roughly 5 per cent in a single day's trading. That's likely due to the surprise nature of the announcement, not to mention Mr Buttress's stellar reputation and more than 10-year history at the company.
