UK's RS Group CFO steps down following personal relationship with colleague

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(Reuters) - RS Group said on Wednesday David Egan would step down as finance chief of the electronics products distributor with immediate effect.

"Very recently I notified the board of a personal relationship with a colleague. Following a detailed review by the board, I recognise that there have been some shortcomings of judgment on my part and my actions have fallen short of the high standards expected of RS leadership," Egan said in a statement.

Shares of the company were down 4% in early trade. RS said there was no change to the profit expectations for the company.

(Reporting by Radhika Anilkumar in Bengaluru; Editing by Nivedita Bhattacharjee)