Slow growth sees Tenon lose FD and COO

Slow growth sees Tenon lose FD and COO

Tenon finance director and COO leave accounting group amid slower than normal growth

Tenon has announced the departure of two of its senior board members and said
some parts of the business experienced a slower first half than previous years.

The group said that both finance director Matthew Brabin and chief operating
officer Bill Davidson had left the group to ‘pursue other interests’. Lesley
Spencer will join the board assuming both operational and financial
responsibilities.

The group, ranked 10th in the Accountancy Age Top 50 firms, said
trading conditions had not changed significantly, but that its clients would
benefit from changes to legislation and regulation, especially in the area of
specialist taxation planning.

‘Although predominantly transactional parts of our business have experienced
a slower first half than in previous years, the actions taken make the company
more resilient and capable of pursuing the opportunities that will continue to
be available,’ it said in a statement.

At the time of the announcement its share price was down 17.16% at 27.75p.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource