John Green, finance chief at troubled vocational training company Carter & Carter, has quit with immediate effect just one day after the company’s shares were suspended following a third profits warning.

On Tuesday the group was forced to suspend its shares after it said it could not accurately assess its financial position.

Green has agreed to stay with the group until it can find a successor. C &C said that while it was looking for a new group finance director, it would seek to appoint an acting finance director, and was receiving assistance from senior consultants engaged recently to strengthen the group’s finance function.

Green was the last executive director on the board, following the death of Philip Carter, the founder and chief executive of the group, in a helicopter crash in May. Rodney Westhead, the non-executive chairman who was a partner in Grant Thornton for 14 years, is the acting chief executive.