Friday, August 15, 2008
Caffyns in boardroom reshuffle
Dealer group announces a raft of board changes
Caffyns has announced a raft of changes to its board of directors following the retirement of chairman Brian Carte due to ill health.
The board has appointed Brian Birkenhead as chairman of the company and chairman of the nominations committee, succeeding Carte in both roles.
As a result, Birkenhead has stepped down as chairman of the audit committee, a role that has been filled by Andrew Goodburn who will also assume the role of senior independent director.
Nicholas Hollingworth has been appointed chairman of the remuneration committee.
The reshuffle came less than three weeks after the group’s management came under attack for its handling of the company.
But Caffyns denied the changes were linked to criticism of the business.
A spokesman for the group said the board changes were “not related” to pressure from a shareholders’ action group, led by investment house New Fortress, which called for the Caffyn family to give up its controlling interest in the eponymous group by relinquishing its second preference shares.
DATED: 15.08.08
FEED: MT
Caffyns has announced a raft of changes to its board of directors following the retirement of chairman Brian Carte due to ill health.
The board has appointed Brian Birkenhead as chairman of the company and chairman of the nominations committee, succeeding Carte in both roles.
As a result, Birkenhead has stepped down as chairman of the audit committee, a role that has been filled by Andrew Goodburn who will also assume the role of senior independent director.
Nicholas Hollingworth has been appointed chairman of the remuneration committee.
The reshuffle came less than three weeks after the group’s management came under attack for its handling of the company.
But Caffyns denied the changes were linked to criticism of the business.
A spokesman for the group said the board changes were “not related” to pressure from a shareholders’ action group, led by investment house New Fortress, which called for the Caffyn family to give up its controlling interest in the eponymous group by relinquishing its second preference shares.
DATED: 15.08.08
FEED: MT
