BusinessCompany NewsTorex set to lose finance chief

Torex set to lose finance chief

FD and CEO at loggerheads with board

Reports suggest that Neil Mitchell, the chief executive at IT software firm
Torex Retail and Marcus Leek, the
finance director, are set to quit after the company issued a
shock
profit warning
, suspended its shares and launched an investigation into its
accounts yesterday.

Mitchell and Marcus Leek are believed to have been at loggerheads with the
rest of Torex Retail’s board since the company published a trading statement on
18 January.

The company is also being investigated by
the
London Stock Exchange
over whether or not it breached disclosure rules.

Last week Leek told the board that the company would miss forecasts for the
year as a result of contract slippage.

Leek joined Torex Retail last July from the Phones4U business.

Further reading:

FD leaves company after seven weeks

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