Wednesday business round-up: Five key stories of the day

Menzies said its chief executive had resigned for 'personal reasons'

Here are five of today's key business stories in one handy package.

Jeremy Stafford resigned as chief executive of logistics group John Menzies, little more than a year after taking up the post. The Edinburgh-based baggage handler and newspaper distributor said Stafford, the former head of outsourcing group Serco’s UK and Europe arm who took up the role in October 2014, had tendered his resignation “for personal reasons”.

Shares in North Sea driller Independent Oil & Gas (IOG) slumped as it delayed plans to drill an appraisal well at the Skipper discovery and warned it would face an “urgent funding requirement” if it did not secure a £10 million loan.