David Egan quits as RS Group CFO

Egan notified the RS board and after a review Egan admitted “some shortcomings of judgment on my part” and said his actions had “fallen short of the high standards expected of RS leadership”.

Egan, who has been with RS for seven years, said it was right for him to step down.

RS has named Jane Titchener, a senior member of its finance team and the vice-president of corporate development, as its interim CFO until a permanent replacement is appointed.

Egan will remain available to the company during an “appropriate transition period”.

RS chair Rona Fairhead, said the board had accepted Egan’s resignation. She thanked him for his service.

Egan’s departure is a blow for RS. He has stood in as Interim CEO on two occasions, first when CEO Lindsley Ruth was on leave of absence and then following Ruth’s resignation from RS.