The firm revealed that Mark Dowding's contract of employment has been terminated with immediate effect.
Global toy company, Character Group, has ousted Mark Dowding from his post as group finance director.
The firm revealed that his contract of employment has been terminated with immediate effect due to a ‘loss of confidence in him by the senior executive team’.
Joint MD, Kiran Shah, will take on Dowding’s duties as finance director and company secretary.
In a statement the company said: “This board change does not reflect any circumstances relating to the trading of the group or its finances.
"The company expects to release a trading update later this month, ahead of its annual results scheduled for publication in early December.”