Shareholder Value Management Wants Hogarth As Mears' Chair
Shareholder Value Management has proposed a further resolution ahead of Mears Group company’s upcoming General Meeting which will give shareholders the opportunity to vote on the candidacy of Andy Hogarth as chairman.
SVM requisitioned a GM with Mears Group last week, in which it called for the current chairman, Bob Holt, to be removed and for Mr. Hogarth to be appointed independent non-executive director. Conditional upon his appointment, SVM has now requested that the board appoint Mr. Hogarth as chairman.
SVM’s further resolution, which is non-binding, will ask shareholders to vote either for or against the appointment of Andy Hogarth as the new chair of the board of directors. It will be conditional upon the outcome of the resolution which has already been proposed to appoint Andy Hogarth as an independent non-executive director (NED).
Shareholder Value Management Director Gianluca Ferrari said:
“We firmly believe that it is our responsibility to stand up for better corporate governance and, in the interest of increasing shareholder value, it is our duty take the necessary steps to ensure that the company hears the voice of the markets. We are confident that our message will resonate among many other shareholders who, like ourselves, would expect a company to be run for the benefit of its shareholders as a whole.”
“Mr. Hogarth is an exceptional candidate who would bring a wealth of experience in business strategy and capital allocation, both of which are, in our view, much needed at Mears. His presence and the improved corporate governance he will provide should offer vital support to Mears’ executive management in improving creation of value for all shareholders alike.”