Chief of troubled ESPC resigns
THE chief executive of the Edinburgh Solicitors Property Centre has resigned amid rumours he was made a "fall guy" for the financially troubled group.
Ron Smith's departure "to develop his other interests" was announced to ESPC members in an e-mail from the group's chairman, Robin Stimpson.
The ESPC axed 50 jobs this year following a poor performance.
An industry insider commented: "In these circumstances, the head man has to take the fall."
The job losses were announced in February after a fall in the housing market. A similar fall in turnover is expected in its accounts for 2008, but these have yet to be registered.
Linda Urquhart, a former ESPC board member, said: "I'm sad. He was good for the company. In these difficult days inevitably somebody looks for a fall guy."
Mr Smith will remain as chief executive until September.
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