Edward Roderick, who was forced out after seven years at the head of Salvesen, was told to leave two weeks before annual results, which are expected to show a poor performance for the logistics group.

Roderick may receive a £900,000 payoff following his departure. He was summoned to the office of chairman David Fish and told of the board’s decision. The company has issued a statement that Fish will become executive chairman until Roderick’s successor is found.

A company representative said he did not expect any significant changes to the business but added the whole business needs to be looked at to reverse the underperformance.

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