FD quits Filtronic
A British company tipped to benefit from the growth of 3G mobile phones has expressed surprise after its long-serving finance director resigned.
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John Samuel quit the job he had held for 13 years at Filtronic, a supplier to the mobile phone industry, to join semiconductor supplier Zetex.
David Rhodes, Filtronic’s founder and executive chairman, expressed surprise at the move, for which he said there was ‘no reason as far as the company is concerned’.
Samuel was credited with restoring Filtronic’s finances following problems brought about by over-stretch, due to acquisitions.
The company’s share price fell at Friday’s news by around 4% to 298p. By Monday lunchtime they stood at 299p