Medical Solutions dumps chief Twose

TREVOR Twose's disastrous tenure at the helm of healthcare group Medical Solutions has ended as the group paid about £200,000 to terminate his two-year contract after 13 months.

The value of the Leeds-based group has shrunk by about 90% to £15m since Twose became chief executive last January. After an acquisitions spree, the group's shares were savaged by profits warnings in June and November. Annual results due on 28 February are expected to show it lost £1.5m after worse-than-expected trading at its main Adams pharmaceutical and cancer businesses.

Chief operating officer Rod Adams steps in as acting chief executive. Finance director Andy Longstaffe said the changes would not herald strategic changes for the group, which has been under pressure from shareholders to arrest its decline. Longstaffe said Texas Group, the firm's largest shareholder had played no part in Twose's departure.