MJ Hudson CEO resigns amid auditing issues
By Michele Maatouk
Date: Wednesday 15 Feb 2023
(Sharecast News) - Asset management consultancy MJ Hudson said on Wednesday that chief executive officer Matthew Hudson has resigned with immediate effect.
Hudson has led the group since it was founded in 2010 as a specialist legal firm through its subsequent acquisitions diversifying the business and IPO in 2019.
He remains a significant investor and shareholder. "However, with the events of the last few months, Matthew has informed the company of his intention to resign," the company said.
News of his resignation comes just days after auditor EY resigned, less than 18 months after it was appointed, citing a loss of confidence in management.
In its letter of resignation, EY said it was "ceasing to hold office because we have lost trust and confidence in the company's management and those charged with governance, and in their ability, along with your finance team, to provide us with accurate and reliable information for audit".
In October 2022, MJ Hudson said it was in talks with its auditors about "significant potential adjustments" in relation to the year-end reporting for FY 2022.
Two months later, the company said its shares were being suspended as it had become aware of "additional issues, including in relation to the reporting of historical trading of the business in relation to FY 2022, the full impact of which is unclear".
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