Stobart sacks director with immediate effect
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Stobart sacks director with immediate effect
What's happening in Stobart Air HQ?
https://www.independent.ie/business/...-37011948.html
Seems a fairly high profile departure with no notice.
https://www.independent.ie/business/...-37011948.html
Seems a fairly high profile departure with no notice.
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things been going bad for quite a while TBH
Clearly personal chemistry isn't there , also issues with a "founder" that often occur - he thinks he knows it all and has the "vision" - they think he's mad, bad & dangerous
Clearly personal chemistry isn't there , also issues with a "founder" that often occur - he thinks he knows it all and has the "vision" - they think he's mad, bad & dangerous
Tinkler is what’s known as a ‘colourful businessman’ – not necessarily meant as a compliment…... It has been said about him that he ran Stobart Group, a PLC, as if it was his own private company. He stepped down as CEO (under pressure from institutional shareholders, it has been speculated) a few years ago, but remained a director and major shareholder. It would seem he wasn’t satisfied with quietly fading into the background, though, because a few months ago he launched an attempted coup against the Stobart Group Chairman, allegedly on the grounds of differences in business strategy although you can’t help but suspect that he wants – directly or indirectly – to seize back control of the company. Since then, battle lines have been drawn, allegations exchanged, Tinkler and the board have launched legal proceedings against each other, and to be honest relations have deteriorated to the extent that his dismissal was probably inevitable. With the legal action and attempt to unseat the chairman ongoing, and the distinct possibility of an unfair dismissal suit added to the mix, these are interesting times for Stobarts.
June the 8th - a week ago:
Boardroom battle at Stobart Group escalates with court action
June 11th - start of this week:
Stobart chief drawn into 'bullying' row over executives' revolt
Boardroom battle at Stobart Group escalates with court action
According to reports, Stobart Group has filed a legal claim with the Commercial High Court against executive director and former chief executive Andrew Tinkler along with William Stobart, former chief operating officer, William Stobart, to recover an unspecified amount from them in relation to a tax scheme they set up as part of a related-party transaction in 2008.
Stobart chief drawn into 'bullying' row over executives' revolt
Sky News has learnt that senior managers at the company have engaged Pennington Manches, a firm of solicitors, to advise them after more than 20 of them decided to support a campaign to oust Iain Ferguson.
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Interesting scenario!
Andrew Tinkler gets the backing of Neil Woodford , wants to install Philip Day and claims to have 33% support.
Stobarts biggest investor is Invesco with nearly 25% .
Neil Woodford worked for many , many years at Invesco .
Maybe there is more than one power play at work here??
Andrew Tinkler gets the backing of Neil Woodford , wants to install Philip Day and claims to have 33% support.
Stobarts biggest investor is Invesco with nearly 25% .
Neil Woodford worked for many , many years at Invesco .
Maybe there is more than one power play at work here??
