Former RSM Tenon chairman expected short term as chair, CEO
RSM Tenon claims cost-cutting measures are on track to bring it back to profitability.
Adrian Martin, former RSM Tenon chairman, knew he would not stay in the position long when he stepped up in January, the accountancy and advisory firm told FTAdviser.
Chris Merry, chief executive of RSM Tenon, told FTAdviser that although it was not announced as a temporary position, Mr Martin did not expect to remain chairman of the company long-term.
Mr Martin yesterday announced his intention to leave the RSM Tenon board, just three months after taking over following the departure of previous chairman Bob Morton, who himself left the position along with former chief executive Andy Raynor.
The senior shuffle follows a profit warning from the company which subsequently announced a series of cost-cutting measures including reducing headcount by 10 per cent.
Although Mr Martin’s replacement has not been selected, Mr Merry said he is looking for someone he can work closely with through the company’s period of change.
Mr Merry said: “We started looking straightaway and the business has been going through a lot of change and turnaround, and getting back to profitability so I would like someone who has experience with that sort of challenge.
“The CEO role is a role where you only have one person you can talk to and that’s the chairman.”
According to Mr Merry, the cost-cutting plans meant to bring the company back to profitability are on track.