Bapcor shares sink after CFO resignation
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More news: Bapcor shares sank in early trading after the auto parts supplier announced the resignation of its chief financial officer George Saoud after only six months in the role.
Bapcor shares were down 5.3% to $4.83 at 10:50am AEDT, extending losses of more than 15% over the last 12 months.
Bapcor CFO George Saoud resigns
The news: Vehicle parts supplier Bapcor has announced the resignation of its chief financial officer George Saoud, who told the company he is pursuing an external opportunity.
The numbers: Saoud will remain with Bapcor during his 12-month notice period to support the transition to his successor.
The context: Saoud joined the Bapcor as CFO in July last year. He previously served as CEO of emerging businesses at Coles between 2020 and 2023 and CFO of supermarkets at Metcash from 2016 to 2020.
What they said: "I would like to thank George for his contribution to Bapcor during his time with us and, while it is disappointing to see him go, I wish him the best in his next endeavour," said Bapcor's executive chair and CEO Angus McKay.
The source: ASX announcement
