STM Group CFO to stand down

Financial services group STM said on Wednesday that long-time chief financial officer Therese Neish will resign from the company after 17 years.

STM stated that a search for a new CFO, to be based in the UK, would commence immediately, with the group expecting to make an appointment within Neish's notice period in order to allow ample time for an orderly handover.

The AIM-listed group added that Neish's decision to step down reflected her view that it was "the right time" to hand over the role.

Chief executive Alan Kentish said: "We would all like to thank Therese for her contribution during a period where we have significantly transformed the business and made a number of complementary acquisitions. "

As of 0840 GMT, STM shares were up 10.81% at 29.92p.