STM Group CEO steps down

STM Group chief executive officer Colin Porter has stepped down, according to a corporate statement issued on Tuesday.

The AIM-quoted financial services company said Porter was leaving to pursue an opportunity in a non-competing industry in the United States.

Alan Kentish, director of product and business development and formerly Chief Financial Officer at flotation of the business in 2007 and executive director since then, will assume the role of Interim CEO as of 1 April 2016.

STM Group reiterated that it has traded broadly in line with market expectations for 2015 of profit before tax of £2.7m versus £1.7m posted in 2014. The company added that it will announce its final results for the 12 months to 31 December 2015 on 1 March 2016.