Skip to main content

SVM vs. Mears Group Heats Up

Mears Group announced this morning that it has rejected Shareholder Value Management’s resolution to provide shareholders with the opportunity to vote on the company’s next chairman at its upcoming General Meeting. SVM called for a GM last week to request the removal of the Group’s chairman, Bob Holt, and the appointment of a new, independent non-executive director (NED), Andy Hogarth. Upon the appointment of Mr. Hogarth, SVM urged the board to appoint him chairman in a timely fashion. Mears Group replied by saying board appointments should not “be imposed on us by a single shareholder.” SVM therefore felt that it would...