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Friday 18

January, 2019 6:24 AM



Ingham's shares clipped after CFO resigns

Ingham's shares clipped after CFO resigns

Shares in poultry producer Ingham's have dropped more than four per cent after the surprise resignation of chief financial officer Ian Brannan on Wednesday.

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By AAP 02.01.2019 01:58 PM

Ingham's shares have been clipped following the surprise resignation of chief financial officer Ian Brannan.

Ingham's Group chief executive Jim Leighton gave no reason for the resignation before trade on Wednesday, but told the ASX via a release that Mr Brannan would stay on for six months to deliver financial results for the fiscal year.

Shares in the poultry producer dropped about three per cent to $4.02 at the resumption of trade, and were 4.12 per cent lower at $3.96 at 1357 AEDT.

"Ian has been with the company for approximately three and a half years and has been an integral part of the management team's transformation and listing of the company," Mr Leighton said.

A search process will begin immediately for a replacement.

Ingham's shares closed at $4.15 on New Year's Eve, representing a gain of 30.2 per cent, or 95.8 cents, for 2018.

The company, which also produces stock feed, reached an historic high of $4.48 earlier in December, its best since listing in November 2016.

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