Russ Mould, investment director at AJ Bell, said: “The unscheduled departure of Jody Ford as CEO of Trainline has derailed shares in the ticketing platform.
“News of Ford’s exit intentions has wiped £51 million off the company’s market value, implying investors are troubled by the sudden leadership change.
“Shares in Trainline have been volatile in recent years amid fears of growing competition.
“The prospect of a UK government-run ticketing platform has troubled investors, while market transformation in mainland Europe is paving the way for new booking operators and apps.
“The fact Trainline doesn’t have someone else lined up to become its next CEO leaves investors wondering what’s going on.
“Ford’s comments imply it was a mutual decision for him to leave and at least he will stay in place until a successor is appointed.
“Investors hate uncertainty and this announcement poses more questions than answers.”
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