The finance boss at Walsall engineering and foundry firm Chamberlin has been suspended from work, the company has revealed.
Mark Bache, aged 48, has been finance director at Chamberlin since 2006. He also serves as Chamberlin’s company secretary.
His suspension is understood to be an internal management matter at the company, but Tim Hair, Chamberlin’s chief executive, said in a statement: “His suspension is wholly unrelated to the financial position of the company or because of any financial matters.
“A further announcement on Mark’s position will be made in due course,” he added,
Mr Bache has played a key role working with Mr Hair in the turnaround at Chamberlin over the last six years, helping see the company come through the recession in reasonable shape.
Mr Bache, who lives in Solihull, joined Chamberlin in November 2006. A qualified chartered accountant with a degree in chemical engineering from Birmingham University he worked at accountancy PwC’s mergers and acquisitions department until 1994. Since then he has held senior positions at Caparo, Partco and Viasystems.
Meanwhile, despite tougher market conditions in recent months, Chamberlin says it is still trading in line with market expectations.