RS Group said Egan would remain available to the company during an “appropriate transition period”. The London-based company, which distributes electrical and electronics components to manufacturers, said it had appointed Jane Titchener, a senior member of its finance team and the vice-president of corporate development, as its interim CFO until a permanent replacement is appointed. The CFO, who has served twice as RS Group’s acting chief executive, said he believed it was right for him to step down.
In a statement to the FTSE 100 company’s shareholders, Egan said he had recently notified the company’s board of a “personal relationship with a colleague”.Īfter a review by the board, Egan admitted “some shortcomings of judgment on my part” and said his actions had “fallen short of the high standards expected of RS leadership”.
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