The chief financial officer (CFO) at RWS Holdings, Candida Davies, has informed the board of her intention to step down from the position.

She has agreed to remain at the technology-enabled language services provider until the end of the year, to support the company with a smooth transition and the reporting of its full-year results.

RWS said it has appointed a search firm and commenced the search for a successor. It added that it will announce the outcome of that process in due course.

Shares in RWS fell by over 2% this morning. In the year-to-date, the language services provider has seen its share price drop by almost 49%.

Chief executive officer at RWS, Benjamin Faes, said: "We would like to thank Candy for her extensive contribution and commitment over the last three years during a pivotal time for the business and our industry.

“Candy has been a key member of our broader leadership team, which has made considerable progress in redefining the group's strategy and operating model, strengthening its position for the future. We wish Candy well for the future."

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