Hurricane has announced the resignation of CFO Alistair Stobie ‘by mutual agreement of the board’. He is to be replaced by Head of Finance Richard Chaffe on an acting basis.
It seems that at this challenging time for HUR that Mr Stobie has paid the price demanded by angry shareholders and has died by the sword, so to speak. The company has made it clear that there is no financial, legal or regulatory reason for his departure and that recent weak share price performance I assume has been the trigger for the smoking gun.
25 March sees the next Capital Markets event and whilst I can’t imagine there will be any significant change in policy it does give the board a chance to reassess the situation should a more conservative route might be appropriate, in the meantime I understand that operationally all is going according to existing guidance.