Peter Darraugh has stepped down as Spring Group CFO to find another job closer to his family, the company said today.

Darraugh will remain with the recruitment company until his replacement is secured.

Spring Group chairman,Amir Eilon, said:' Having been a central part of the turnaround team, he now wishes to move on to a new challenge closer to his home and family.'

The CIMA qualified accountant made his decision to step down after seven years at the company, which has a global network of offices spanning the UK, Europe, USA and Asia Pacific. He joined the board as CFO in 2006.

Eilon said: 'Since his [board] appointment, Peter has played a key role in helping return the group to financial health and has established a strong finance team, coupled with the appropriate systems and processes to support the group's continued growth.'

The company added: 'Spring has commenced the process of appointing a successor and will update shareholders on progress in due course.'

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