LONDON (Brand Republic) - Lord Chadlington, the founder and former chairman of PR firm Shandwick International, is working with fellow shareholders to have the board of directors of marketing firm Huntsworth removed for poor performance.
He is working with Anthony Brooke, former director of SG Warburg, and Jon Foulds, former chairman of the Halifax. Together Lord Chadlington and Foulds own 29.75% of shares in the company, which used to be known as Holmes & Marchant.
The three have called an extraordinary general meeting, to be held by August 30, where shareholders will vote on the removal of Huntsworth’s board, including chief executive John Holmes, three executive and two non-executive members.
The three plan to take over as executive directors in a bid to turn around the company’s performance. Huntsworth’s share price has dropped from 200p in the Eighties to around 20p. The value rallied on the news yesterday, however, rising 8.5 to 39p.
This article was first published on brandrepublic.com