Bridgepoint president resigns

The chairman of private equity firm Bridgepoint has resigned.

William Jackson’s exit comes three years after his London stock market debut, in which he pocketed almost £8m of the £2.9bn IPO.

He received £818,500 last year and was “interest bearing” – a secret share of the profits. Bridgepoint was the first private equity firm to list in the UK in decades, but shares in the company, which owns Burger King UK and Hobbycraft, plunged more than 50 per cent to 214 pence yesterday.

Jackson will remain president of its private equity business. Bridgepoint manages €41bn (£35bn) in assets. Replacement Tim Score was previously chief financial officer at Cambridge chipmaker Arm.