Pharmaceuticals company Whatman, which in October announced an expansion of its Banbury-based business, has unceremoniously ousted its chief executive.
Chairman Bob Thian, who was appointed last month at the insistence of shareholders, announced the immediate departure of chief executive Tim Coombs, along with two other directors. Mr Thian, who will take on executive responsibility until a new chief executive is appointed, said: "I believe that new leadership with a reshaped board will allow the company to realise its full potential."
The company, which has its headquarters in Maidstone, Kent, moved its Banbury operations to larger premises on the Wildmere Road estate in October from its former laboratories in Beaumont Road.
The move created 75 more jobs, increasing the staff at Banbury to 115.
A spokesman said: "It is too early to say if there will be any repercussions for Banbury jobs." Shares in the company were quoted on the London Stock Exchange at 76p on December 3, against a 52 week high 131.5p.
The departure of Tim Coombs, along with non-executive directors Mary Good and Sorrell Mathes, comes three months after chairman Simon May departed to make way for the shareholders' choice of Bob Thian.
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