A COMPANY director from Aberporth has been killed in a cycling accident while holidaying on the Spanish island of Menorca.

Dad-of-three Phil Rasmussen, 47, died after the incident on Sunday.

A 25-year-old American man has been arrested on suspicion of drink-driving, after allegedly failing a roadside breath test.

Colleagues at Cardiff-based IQE technology company which manufactures semi-conductors for a range of devices, including smart phones, paid tribute to their chief financial officer.

“The tragedy will be most deeply felt by Phil’s family,” said IQE chief executive Drew Nelson, who added that Mr Rasmussen’s colleagues had sent their ‘heartfelt condolences’.

“It is also a tragedy for so many of us who considered Phil a friend as much as a colleague.

“We will do everything we possibly can to preserve his legacy at IQE and continue with the shining example he has set for all of us.”

A Foreign Office spokesperson said: “We have offered bereavement advice to the family following the death of a British man in Menorca.”