Major distributor Azlan lost its chief executive today in the wake of a massive loss of staff.
Christian Martin, CEO of the UK company - which has seen many of its staff leave since an internal audit and share suspension in June - "fell on his sword", according to Barrie Morgans, UK head of IBM today.
The company has still failed to offer a reason for the suspension of its shares in June, although there have been rumours about problems with the accounting of marketing and inventory items. But today, Ed Arnett, corporate communications manager at Azlan said: "We haven't taken the MDF (marketing development fund) money. Our accountancy programme is not to put MDF against our bottom line. There is nothing wrong with the stock system we have."
He said the reflotation will happen later this month.
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