AA chief executive and finance boss to quit
The AA has announced that its chief executive and finance boss are quitting the breakdown recovery group less than three months after its initial public offer.
The company, which floated on the London market in June following a sale to a management buy-in team and institutional investors, said Chris Jansen will step down from the board immediately and will leave following "an orderly transition".
Executive chairman Bob MacKenzie, who led the buy-in, said the ownership shake-up had changed the AA and it had reached the decision with Jansen by mutual agreement.
Jansen, who was appointed by the previous owners to improve the business and pave the way for a sale, said his role had changed substantially after the sale.
"I have therefore agreed with Bob to find a new executive opportunity outside the AA," Jansen said.
Chief financial officer Andy Boland is also leaving the company and a further announcement will be made in due course about the timing of his departure, the AA said.
Shares rose 0.25p or 0.09% to 276p in early trading in London.
PW