Wandisco taps Kenneth Lever to take over as interim chairman

Wandisco stated Lever will also become the chair of the committee supporting an investigation currently being undertaken by FRP Advisory into "sophisticated and potentially fraudulent irregularities" in received purchase orders by a senior sales employee that gave rise to "a potential material misstatement" of the company's financial position.

The AIM-listed group noted that Lever previously held "a number of senior executive and non-executive positions" within UK-listed firms such as Vertu Motors and Rockwood Strategic. He also recently stepped down as chairman of Biffa and RPS Group.

Wandisco added that the appointment was subject to completion of customary due diligence and will make further announcements, as appropriate.

As of 0900 GMT, Wandisco shares remained suspended at 1,310.0p.

Reporting by Iain Gilbert at Sharecast.com