(Sharecast News) - Manolete Partners announced on Monday that its chief financial officer of five and a half years has left the business with immediate effect.

In a statement to the market, the insolvency litigation financing firm said that Mark Tarverner has left the business and a formal search has started to find his replacement.

The company gave no reason for the departure of Tarvener, who joined the board in October 2019.

Financial controller Rachel Lindley-Janes, who has been with Manolete for over three years, who will assume the non-board role of interim head of finance.

"I would like to thank Mark for his contribution to Manolete over the last five years and I wish him every success for the future," said chief executive Steven Cooklin.