Troubled UK ATM operator Cashbox says its chairman Anthony Sharp has resigned from the company and will be replaced by Conservative MP and former treasury minister John Maples.
Sharp, who joined the independent ATM operator in 2004, has over-seen a turbulent time at the company, including a change of senior management following the sacking of former CEO Carl Thomas for alleged illegal share dealing earlier this year.
In a statement Cashbox says Sharp is leaving the company "to focus on his other business interests".
Maples, who is currently a non-executive director of Cashbox, has now been appointed chairman.
Cashbox says Maples brings "a wealth of business experience relevant to Cashbox". He was chairman of ATM operator Bank Machine from 2003 until it was acquired by Cardtronics in 2005.
Maples is currently the member of parliament for Stratford-on-Avon and the deputy chairman of the Conservative Party. He served as a treasury minister in the governments of both Margaret Thatcher and John Major.
The management change follows news earlier this week that Cashbox had secured £8.75 million in funding from the Bank of Scotland.