New chairman at Innovation

12 April 2012

INNOVATION Group founder Rob Terry stepped down as chairman, although he will remain as chief executive. He is handing the chairmanship to non-exec director Geoffrey Squire, who joined the board last June. Paul Smolinski joins as finance director from Compaq UK & Ireland, while predecessor Steve Scott will concentrate on corporate development.

The shares rose 13 1/2p to 162 1/2p as Terry reported a 360% leap in adjusted interim pre-tax profits to £16m.

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