26th Jul 2018 12:10
LONDON (Alliance News) - Quarto Group Inc said Thursday that co-founder, major shareholder and former boss and chair Laurence Orbach has stepped down from the board of the book publishing firm.
Orbach had served as chairman and chief executive officer of Quarto until 2012 after co-founding the firm in the 1970s. He was forced out by activist investor Harwood Capital.
Orbach returned in May as executive chairman before stepping down to non-executive director to be replaced by Andy Cumming as non-executive chair. In late March, Orbach held a 20.1% stake in Quarto having increasingly built his stake in recent months.
Shares in Quarto were 2.4% higher at 106.00 pence on Thursday.
Related Shares:
QRT.L