BusinessCompany NewsSlow 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.

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