Cambian Group has announced that chief financial officer Andrew Griffith will be leaving the company after it announces its 2015 full year results in March 2016.

The move follows a disappointing trading update from the specialist care provider. On 22 October, Cambian informed the London Stock Exchange that its adjusted ebitda would be “not less than £49 million”.

The figure is significantly lower than previous forecasts (the Bloomberg consensus was £59.3 million) and the company’s share price fell by nearly 50% that day as a result.    

Griffith joined the specialist care provider in 2014, prior to its merger with Advanced Childcare and listing on the London Stock Exchange.

Christopher Kemball, non-executive chairman of Cambian Group, said: "On behalf of the board, I would like to thank Andrew for his commitment and hard work over the past two years, particularly in accomplishing last year's IPO, and we wish him well for the future."

The search for a successor to Griffith is already underway.