The newly-appointed chief operating officer at listed motor dealership Lookers Plc has resigned.
Lookers, which is headquartered in Altrincham, announced last month (February 5) Cameron Wade had joined the group , alongside chief financial officer Mark Raban.
However, in statement this morning, the group said Mr Wade “has resigned from the board and is leaving the company with immediate effect”.
It comes after the group announced on Tuesday it would delay publishing its financial results until April, after it identified “potentially fraudulent transactions”.
In a brief statement on Tuesday, the firm said: “In the final stages of preparing its results for the financial year ended 31 December, 2019, the company has identified potentially fraudulent transactions in one of its operating divisions.”
In November 2019, former chief executive Andy Bruce and chief operating officer Nigel McMinn announced they would step down from the board with immediate effect.
The group said that 2019 was a “challenging year” in a trading update for the 12 months to December 31.
However the firm said, despite challenges, trading in the final quarter was “as expected” and anticipates underlying pre-tax profit to be in line with expectations.
