Edward Ward terminated his appointment as a director of the company earlier this month, according to documents filed at Companies House. When Asco was formed in August last year, Ward was named as MD. This title has since been transferred to Dave Laney, who was initially operations manager.
Ward is a property developer and former owner of non-league football club Darwen FC, which went into administration last year.
Laney insisted there was no mystery over Ward's departure. "The important thing about the Companies House document is that I am now officially registered as managing director in order to take the business to the next stage," he said.
Asco made a number of redundancies just before Christmas.
One month in, new Asco chain is axing staff (16 January 2010)
EPoS calamity hits Asco on launch day (12 December 2009)