Stobart Group Limited Appointment of Advisers (7124V)
July 25 2018 - 3:24AM
UK Regulatory
TIDMSTOB
RNS Number : 7124V
Stobart Group Limited
25 July 2018
25 July 2018
STOBART GROUP LIMITED
('Stobart Group' or 'the Company')
Appointment of Advisers
On 9 July 2018, the Board of Stobart Group announced its
intention to appoint a leading independent search firm as part of a
thorough and rigorous process to refresh and further strengthen the
Board as well as retain an independent firm to investigate concerns
raised about alleged bullying and whistleblowing.
In respect of the Board refresh, the Board is pleased to
announce that it has appointed Russell Reynolds Associates, a
leading independent search firm, to lead the process to identify
suitably qualified and independent persons to be appointed as
Non-Executive Chairman, as Senior Independent Director and one or
more additional Non-Executive Directors. The Board is also
continuing its search to find a suitable interim Chief Financial
Officer.
As part of its brief, Russell Reynolds Associates will engage
with significant shareholders and consider any candidates who may
be recommended by them. The Board is aware that Allan Leighton, who
had been suggested by one shareholder as a possible candidate for
Chairman, has advised that he does not wish to be considered.
The Board has also announced the appointment of Alice Mayhew, a
senior employment barrister at Devereux Chambers, to carry out an
independent investigation into the concerns raised in recent weeks
by certain employees regarding alleged bullying and whistleblowing.
Ms Mayhew will be seeking to interview all members of the Executive
Leadership Team, among others, as part of her investigation.
Enquiries:
Redleaf Communications +44 203 757 6880
Robin Tozer stobart@redleafpr.com
Ian Silvera
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END
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