3rd Sep 2015 08:32
LONDON (Alliance News) - Quindell PLC Chairman Richard Rose has said the company will change its name before Christmas as he launched an attack on his predecessor, company founder Rob Terry, the Daily Mail reported.
According to the Daily Mail's This is Money, Rose told Quindell's shareholders at its annual general meeting that Terry's departure towards the end of 2014 had been welcomed within the company, adding the reputation of the insurance technology company would have been "shot to pieces" had Terry remained in place any longer.
Asked by one shareholder why Terry had not been retained to help with the company's investigation into past accounting practices, Rose said: "I would suspect that the credibility would have been shot to pieces if we had retained the former chief executive to be honest." He added Terry had been "unhelpful" when the company had been trying to find information about past deals.
Rose also said the company will be changing its name before Christmas, adding that none of the potential options "begin with a Q", according to the newspaper.
http://www.thisismoney.co.uk/money/markets/article-3219971/Quindell-chairman-Richard-Rose-launches-extraordinary-attack-ousted-predecessor-Rob-Terry.html
By Sam Unsted; [email protected]; @SamUAtAlliance
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