IG Design Group PLC on Friday said its interim chief operating officer will step down, effective Friday next week.

The Buckinghamshire-based gift packaging and stationery company said Lance Burn would step down as interim COO and executive director, but will remain with business until October 31 in a project-based role.

It also noted Paul Bal will become chief executive officer on the same date, as previously announced, while Interim Executive Chair Stewart Gilliland will return to the role of non-executive chair.

‘On behalf of the board, I would like to thank Lance for his dedication and contribution to the group since he joined the board in 2012,’ said Gilliland.

‘He has played an important part in developing the group’s capabilities and competitive position as well as providing strong leadership during the turnaround of the DG Americas business over the last year.’

IG Design said its search for a new chief financial officer is ‘well advanced’, with an announcement set to be made ‘as and when appropriate’.

It also intends to announce a post-close trading update for the financial year ending March 31 in early May.

Shares in IG Design were up 1.7% to 174.85 pence each in London on Friday morning.

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