The finance chief of Diploma has resigned with immediate effect after an incident at a recent company event, the FTSE 100-listed firm announced.
Chris Davies stepped down following what the company described as a “lapse in judgement” where his personal behaviour did not meet the high standards required of the group’s leadership team. Diploma did not provide further details but said the incident was isolated.
The resignation is unrelated to the company’s financial performance, and its earnings forecast remains unchanged. Davies, who joined Diploma three years ago from National Express, will be replaced temporarily by Wilson Ng, the group’s financial controller.
Diploma, which supplies technical equipment such as filters, wiring and fasteners, reported a pre-tax profit of £177 million in its last financial year. The company’s share price fell by about 3.5% on Thursday following the announcement.
