Shares digital

Grant Dow has quit as chief executive of Plantic Technologies (PLNT:AIM), the environmentally friendly food packaging manufacturer. It is understood that the company’s poor share price performance since floating in May 2007 had put a strain on Dow’s relationship with the rest of the board.

The share price had fallen by a third since October, prior to Dow’s departure. Investors didn’t take well to the management change, pushing the share price down a further 17% to 42.5p. Finance director and chief operating officer Brendan Morris will become interim CEO.

Shares says: Despite solid trading, Plantic’s shares are likely to stay weak until a new CEO is found.

by: Dan Coatsworth