6th Jul 2018 07:41
LONDON (Alliance News) - German asset manager Shareholder Value Management has forced an emergency general meeting to oust Mears Group PLC Chairman Bob Holt, The Financial Times reported late Thursday.
The investor - which holds 8.9% stake in the social housing & care company - raised concerns about former Chief Executive Holt's spending record and the chairman's time commitments, the newspaper said.
Mears' share price has fallen by almost a quarter during the past year while its pretax profit declined by almost 10% in 2017.
Meanwhile, The Financial Times said Shareholder Value Management proposed as a new Non-Executive Director Andy Hogarth, who has previously led recruitment company Staffline Group.
https://www.ft.com/content/c12c558a-7fb4-11e8-8e67-1e1a0846c475
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