5th May 2016 16:28
LONDON (Alliance News) - CPPGroup PLC, the AIM-listed assistance business, said its board was ousted at a shareholder vote on Thursday.
The proposals to remove Chief Executive Stephen Callaghan, Chairman Roger Canham, and Non-Executive Directors Shaun Astley-Stone and Abhai Rajguru were first put forward by Schroders, which owns just over 10% of CPP, and were backed by founder Hamish Ogston, who controls a 42% stake in the company.
Richard Lapthorne, the chairman of Cable & Wireless Communications PLC, was named to the board. Mark Hamlin, the joint deputy chairman at Cable & Wireless, also joined, along with former Cable & Wireless board member Nicholas Cooper.
Further appointments to the board will be made in due course, CPP said.
Shares in CPP closed down 8.2% at 8.26 pence Thursday.
By Samuel Agini; [email protected]; @samuelagini
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