Fishing Republic finance director Russell Holmes resigns

AIM-listed fishing tackle retailer Fishing Republic said on Tuesday that finance director Russell Holmes has resigned to take up another position.

Holmes will remain at the company until mid-March to ensure an orderly handover and a group financial controller has been appointed for an interim period until a permanent successor is hired.

Executive chairman James Newman said: "I would like to thank Russell for his contribution to the company over the last two years and wish him well in his future career. The board has appointed an experienced finance professional, who is already working in the business, as group financial controller until a permanent finance director is appointed."

Last month, the company raised £1.3m through a placing of 13m shares to new and existing shareholders to advance and develop its e-commerce operations, logistics and merchandising activities.

At 1400 GMT, the shares were down 5.3% to 13.50p.