Bapcor shares sink after CFO resigns
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The news: Shares in aftermarket auto parts provider Bapcor have dropped more than 6% after the group announced the resignation of chief financial officer Stefan Camphausen.
The numbers: Bapcor's share price was trading 6.3% lower at $5.25 by 3pm AEDT.
The context: The company's share price has struggled to recover from a double-digit drop after posting sliding annual profits and tepid growth last October. Camphausen, who has signed up as CFO for another ASX-listed company, will stick around to support a transition as Bapcor searches for his successor.
What they said: "I would like to thank Stefan for his contribution to Bapcor. He has led the finance function during a period of significant transformation and we wish him every success in his future endeavours," Bapcor chief executive and managing director Noel Meehan said in a statement.
The source: ASX Announcement
