(Alliance News) - Ebiquity PLC said on Tuesday that Michael Karg is stepping down as a director and chief executive officer with immediate effect.
The company said Chief Financial Officer Alan Newman will assume the role of interim CEO while the search for a permanent CEO is undertaken.
Ebiquity said Karg will remain in the company until the end of 2019 to support Newman and ensure smooth transition and handover period.
Rob Woodward, chair, said: "Michael has transitioned the business towards becoming a more streamlined consultancy aligned to the demands of the evolving marketing and media environment and with a stronger balance sheet. We wish him well for the future."
Ebiquity shares closed 3.5% down in London at 42.00 pence each on Tuesday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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Ebiquity (EBQ)