Shearwater announces departure of chief executive after close

Cyber security services provider Shearwater Group (LON: SWG) announced the departure of its chief executive and flagged poor results after the close of trading on Friday.

At 5.19pm, AIM-quoted Shearwater revealed that Michael Stevens “has agreed to step down from the board” and has left the company. He is being replaced by Phil Higgins, who joined the company when it bought Brookcourt Solutions last October. He founded Brookcourt in 2005.

Michael Stevens was appointed chief executive of the company in October 2016, when it was still known as Aurum Mining, before it started making acquisi...