28 April 2009

Travelzest suspends CEO Mottershead

CEO Chris Mottershead has been suspended from tour operating group Travelzest.

A statement from the company said he had been suspended from his executive responsibilities pending the outcome of an investigation.

The company said it had started a probe into a "potential misappropriation" of funds.

"The board currently does not believe that the sums involved are material in the context of the Travelzest group as a whole," the statement released on Friday said.

Executive director Jonathan Carroll has assumed the role of interim CEO while the company conducts the investigation.

Travelzest said a further announcement will be made "as appropriate".

by Phil Davies

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