Top job last minute change

The firm said that Ian Mills - who was to take up the role after leaving his job as head of a builders' merchants - would not now be coming to the firm.

It is believed a six-figure compensation payout is being thrashed out between the two parties.

Instead, the conservatory roofing firm said David Moore, who has been acting managing director of the firm since May, will be the new chief executive.

Non-executive director of the firm Rod Sellers said the decision for Mr Mills not to join the company was by mutual agreement.

"It may look odd but these things happen in business," he said.

"We decided that it would not be appropriate for Mr Mills to join the firm." It is understood that major investors in the firm had expressed concern about whether Mr Mills' business background was the right one for a firm like Ultraframe. One national newspaper said the city had been "underwhelmed" by the firm's choice of new chief executive.

Mr Sellers admitted that compensation may have to paid to Mr Mills following the move. But he said he was confident David Moore was now the right man for the job. Mr Moore, 36, was appointed finance director of Ultraframe in 1993 and deputy managing director in 1998.

Former Bacup and Rawtenstall Grammar School pupil Mr Mills was previously chief executive at Graham Group, one of the largest chains of builders' merchants in the country.

The search for a new boss for the firm began in May when managing director Ian Robinson, who had steered the firm through its successful stock market flotation, resigned his post.

Ultraframe also announced that its figures due to be released in December would show profits of more than £22million - higher than city forecasts.

Shares in the firm moved up 1p on yesterday's announcement, although they are still below last week's figure when Mr Mills was appointed.

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