Speedy Hire plc, the Newton-le-Willows-based tools and equipment hire firm, announced that James Bunn has tendered his resignation as chief financial officer (CFO) “to pursue an opportunity in an unrelated sector.”

Bunn will step down as CFO and from the board on November 1, 2022, and the Speedy Hire board has appointed an external headhunter to start the process of finding a permanent successor.

For the intervening period, Speedy Hire has appointed Paul Rayner as interim CFO with effect from November 1, 2022, “for a period of up to 12 months allowing time for the board to complete the recruitment process.”

Speedy Hire said: “Paul is a Fellow of The Institute of Chartered Accountants with over 25 years’ experience in senior financial roles, including interim and permanent roles respectively on the main boards of FTSE-listed companies, Avon Protection PLC and Chemring Group PLC.

“Until his leaving date has been agreed, James will continue working with Paul and the rest of the Speedy executive team to ensure a smooth hand over of responsibilities.

“The board confirms that trading in the first half of the financial year has been in line with its expectations.”

Speedy Hire chairman David Shearer said: “On behalf of the board, I would like to thank James for his contribution at Speedy and wish him well in his new role.

“I am pleased to welcome Paul Rayner as interim CFO, which will allow the board time to conduct a thorough process to find a successor to work with CEO Dan Evans as he drives forward Speedy’s growth strategy.”