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Yell shares fall 20 per cent after exit talk of top honchos

Chief executive and finance director to go.

Yellow pages publisher Yell saw its shares fall over 20 per cent yesterday after both the chief executive and finance director said they planned to leave the company in a year.

Shares at the struggling directories group lost more than a fifth of their value, declining by about 22 per cent, to touch 36.76p due to the reshuffle at the top.

Chief executive John Condron said he intends to retire within 12 months. He has been with the FTSE-250 company for over 30 years, serving as chief executive since 1994, when it was still part of BT.

John Davis, finance director for ten years, will also be stepping down to "pursue new challenges".