Diversified financial services group MFS Limited has appointed Craig White as its new chief executive officer following the resignation earlier today of Michael King.
King resigned this morning following the slide in the value of MFS shares, which followed the announcement of a strategy to separate the company’s hospitality and financial services arms and undertake a capital raising.
White was previously the deputy chief executive and has significant experience in the funds management sector.
The company said King had “voluntarily forgone his right to be paid compensation and entitlements under his service agreement following his resignation”.
City Pacific earlier today announced that it had withdrawn a merger offer involving the financial services arm of MFS.
