Rotherham-based fishing tackle retailer Fishing Republic said acting CEO Chris Griffin will leave the firm and chairman James Newman will assume the role of executive chairman until a permanent CEO is found.

Fishing Republic said its trading in the final months of the financial year ended December 31, 2017, was in line with management expectations after successful Black Friday and Christmas online sales campaigns.

It expects revenues for the year to be about £9 million although, as previously stated, the company will record an overall loss for the period.

“Chris Griffin, who joined the company as acting CEO (non-board) to conduct a comprehensive appraisal of its operations, has completed his review and, as a result, a number of organisational and operational changes are already underway,” said Fishing Republic.

“This includes a significant strengthening of the senior management team, with new talent joining the business in some key roles.

“In particular, the review has focused on Fishing Republic’s e-commerce operations and platform in order to accelerate the company’s development in this critical area.

“Having completed this important project, Chris has now stepped down from his role as acting CEO and will be leaving the company.

“The board would like to thank Chris for the valuable work he has completed, especially in assembling an experienced new senior management team, and wishes him well in the future.

“The board has commenced a recruitment process for a permanent CEO and, in the interim period, Chairman, James Newman, will assume the role of Executive Chairman and will continue to oversee the operational changes.

“The Company expects to publish full year results in mid-April when a further update on trading will also be provided.”