- Marketing and media consultancy Ebiquity said that chief executive Michael Karg had stood down, with immediate effect.

Chief financial officer Alan Newman would assume the role of interim CEO while the search for a permanent replacement was undertaken.

Karg would remain an employee of the business until the end of 2019 to support Newman and ensure a smooth transition and handover period.

'On behalf of the board, I would like to thank Michael for his significant contribution to Ebiquity over the past four years,' chairman Rob Woodward said.

'Michael has transitioned the business towards becoming a more streamlined consultancy aligned to the demands of the evolving marketing and media environment and with a stronger balance sheet.'

At 3:21pm: [LON:EBQ] Ebiquity PLC share price was -1p at 42.5p

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