Peppa Pig and Teletubbies toy maker dumps its finance director
Shares in toy company Character Group dropped more than three per cent today after the company ditched its finance director.
An announcement this morning said that the firm’s board had “lost confidence” in Mark Dowding, the company secretary and group finance director.
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Following a board meeting, held yesterday, Dowding’s contract has been terminated.
“This Board change does not reflect any circumstances relating to the trading of the Group or its finances,” the statement said. “The Company expects to release a trading update later this month, ahead of its annual results scheduled for publication in early December.”
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Managing director Kiran Shah will now assume the responsibilities of finance director and company secretary.
Character Group holds the licenses for various children’s franchises in the UK, making and selling toys based on TV shows and movies.
Its top-selling brands include Peppa Pig and The Teletubbies. It also recently became the distributor for Pokemon toys in the UK.
But at its half-year report for the six months to 28 February this year, the company’s revenue and pre-tax profits both fell.
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