Gama Aviation chairman resigns following profit warning
By Iain Gilbert
Date: Monday 12 Nov 2018
(Sharecast News) - Gama Aviation chairman Ralph Robins announced his intention to retire from the group on Monday, setting the AIM-listed firm off on a journey to find a replacement for the long-serving Rolls-Royce executive.
Robins, who joined Gama back in 2015, will stand down as chairman "in due course".
The aviation services firm told investors that the search for a replacement had already begun.
Gama issued a profit warning back in October, revealing that annual profits would come in roughly $3m below expectations after subdued recent trading across its divisions.
The Hampshire-based group said the "substantial growth" projected at its interim results had failed to materialise and that trading in certain divisions had not improved sufficiently to deliver its previous full-year expectations.
As of 1430 GMT, Gama shares had climbed 7.37% to 153p.
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