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Innovation finance director steps down

Created:
10 October 2008
Written by:
Malar Velaigam

Paul Hemsley, the group finance director of business process outsourcing group Innovation, has stepped down "by mutual consent". Innovation's financial controller Jane Hall will be taking on the role as acting finance director with immediate effect while Mr Hemsley will remain at the group for an interim period of six months to complete some projects.

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IC VIEW:

FairlyPriced

The news comes less than a fortnight after Innovation's profit warning and has been welcomed considering the questions raised over management's credibility over the last year. The shares have all but collapsed and at 5.5p, we can still see little reason to chase them. Fairly priced.

Last IC View: Fairly priced, 5.7p, 1 October 2008

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