Executive: Alex Laffey

executive: Its chief executive, Alex Laffey, will stand down with immediate effect . The revelations are a fresh headache for the fund manager Neil Woodford, whose funds own about 23% of Stobart's shares, according to The Guardian. In a double blow for holders of Woodford funds, the value of another major holding, Industrial Heat, has also been downgraded to reflect the slower progress of the company . Woodford's fund administrators, Link, also issued a further note to investors confirming that it will remain closed until early December, and that it had continued to fall in value, losing 11% since dealings were suspended in June compared with a small rise in the FTSE All Share since then. The company said there was a 2m error in its 2018 accounts, and that profits for the first half of 2019 would be significantly lower than forecast. Eddie Stobart Trucks & Trailers, and its spin-off, Eddie Stobart's Excellent Adventures, were a stalwart of Channel 5 television programming and won millions of viewers, but the ride for investors has been painful. From 1.60 a share in early 2017, they had fallen to 70p before trading was suspended. Shares in Eddie Stobart, founded by its now-90-year-old eponymous former boss at the end of the 1940s, have tanked in recent years. (news.financializer.com). As reported in the news.