Photonstar brings in company to manage its finances

PHOTONSTAR has appointed a company top manage its finances on an interim basis.

CFO Solutions has been hired by the AIM-listed LED lighting provider as it searches for a replacement for CFO Ceri Jones, who leaves today.

Nigel Souster and Nigel Lee, principals of CFO Solutions, have between them more than 40 years’ experience working in finance. Souster was a partner at PwC in Southampton for 20 years, while Lee spent 11 years at PwC, and has served as an FD and controller in a number of IT companies.

CFO Solutions has worked with Photonstar since its inception, and has recently been advising the board.

James McKenzie, CEO of PhotonStar LED Group PLC, said: “CFO Solutions, and Nigel Lee in particular, has provided the financial support and advice needed to guide PhotonStar LED from its start in 2007 to the reverse take-over of Enfis in 2010.

“This experience and deep understanding of the PhotonStar business makes CFO Solutions the obvious choice for the interim CFO role.”

The company’s share price was static at 6.25p in this morning’s trading.

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