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The chairman of the audit and risk committe has stepped down from the board of PZ Cussons.

Non-executive director Jeremy Townsend will leave the maker of Imperial Leather, Carex and Original Source on 24 February 2024 to reduce his non-executive commitments.

PZ Cussons chairman David Tyler said: “Jeremy has been a very strong and effective director and audit chair at PZ Cussons and so we regret his decision to stand down.

“However, we understand his need to focus on his executive responsibilities now and we wish him every success for the future.”

Last month, the group reported it was trading in line with expectations amid a rebound in its Nigeria business.

It expected low-single-digit like-for-like revenue growth for first half of the year.

Morning update

The FTSE starts the week by opening 0.2% lower at 7,516.68pts.

It’s a quiet morning on the markets for fmcg news, but early risers include Ocado, up 2.9% to 611.6p, THG, up 2.1% to 80.1p, and Coca-Cola Europacific Partners, up 1.9% to 84.2p.

Deliveroo leads the early fallers, down 0.9% to 139.9p, while Nichols is down 0.5% to 1,055p and Haleon is down 0.4% to 330p.

This week in the City

It’s looking like a fairly quiet opening week for December in food and drink.

Tomorrow kicks off with full-year results from food-to-go group SSP, with pub group Marston’s also reporting preliminaries and online greeting cards business Moonpig putting out interims.

In the US on Wednesday, Campbell’s Soup and Brown-Forman both release quarterly results.

Packaging firm DS Smith publishes first-half figures on Thursday.