Headhunter axed by recruiter

The chief executive of a leading firm of headhunters paid the price for a profits warning that sent shares sharply lower earlier this month.

Whitehead Mann, which carries out recruitment work on behalf of a number of blue-chip firms, said Stephen Lawrence had left with immediate effect.

His departure follows an announcement from the firm that first-half revenues would be 12% lower because of its weak market position in the US. Shares plunged 35% in the wake of the downgrade.