ARM yesterday admitted that its finance director, Jonathan Brooks, is to leave the chip developer next February after seven years with the company.

Brooks' departure is likely to be an amicable one - why else would he stay on for another two months - though chairman Robin Saxby did say he thinks the company needs "some new blood and some new energy" and "you've got to bring new players in to keep winning the matches".

Saxby stressed there was "nothing sinister" in Brooks' move. Investors may think differently, however. ARM's shares fell four per cent to close at 358.5p after Brooks' departure was announced. ®