Dan Wright, who joined engineering support services group Semple Cochrane as managing director at the beginning of June, left the firm abruptly last week after less than three weeks in the job.
In a terse statement to the stock exchange, the company said only that he was being replaced for the time being by executive chairman Tom Clark, who jointly founded the company in 1980 and has been a non-executive director since it floated in November 1996.
Wright’s appointment was intended to have given Clark the time to take a more strategic view of Semple Cochrane’s development.
The Scottish company declined to comment on the severance package. Wright blamed ‘irreconcilable differences in style’ for his departure.
The City was relatively unperturbed by news of the resignation, helped by the statement from the company which added that directors ‘continued to be encouraged’ by the current trading performance.