Yell CFO and CEO to step down

The CFO and CEO of Yellow Pages publisher
Yell are to
leave the business.

John Davis, its CFO, wishes to step down to “pursue a new direction in his
career” and will leave when a successor is in position. CEO John Condron will
retire by May 2011.

Chairman Bob Wigley said that Davis had implemented strong financial
disciplines, and ensured consistently “very strong” cash flows.

The group posted year-end performance ahead of guidamce. Revenues were down
11.5% to £2.1bn on the previous year. Profits were £46m. It share price fell 9%
in the morning’s trading.

Further reading:

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