The Alumasc Group (AIM:ALU) announced that it has suspended chief executive Pamela Bingham pending an investigation into her professional conduct.
The AIM-listed premium sustainable building products company said it is conducting a full investigation with support from professional advisors.
Non-executive chair Vijay Thakrar will step in as executive chair on a temporary basis while the process runs its course. Thakrar will draw on Alumasc's divisional managing directors and chief financial officer Simon Dray for continuity, a team with roughly 35 years of combined tenure at the group.
Alumasc operates across three segments: water management, building envelope and housebuilding products.
Roughly 80% of its sales are driven by building regulations and specifications set by architects and structural engineers.
The company gave no timeline for when the investigation will conclude.