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Boardroom row intensifies at Darwen smartmeter firm
3:44pm Wednesday 14th August 2013 in News
DIRECTORS at a Darwen smartmeter firm have hit back at a statement from the company chairman as a boardroom row intensified.
Bglobal shareholders will come to the table tomorrow after shareholder Hawkwood Capital forced a general meeting, calling for the removal of Peter Kennedy.
In a response to the call, Mr Kennedy last week issued a promise that if he was kept in place, he would step aside as chairman to take a different role on the board.
He also said if he was to survive he would push for the removal of chief executive Tim Jackson-Smith and non-executive director James Newman.
The pair have backed the call for Mr Kennedy’s removal and the installation of John Grant as new chairman to carry out a strategic review of the firm.
Mr Jackson-Smith and his colleagues issued statement which said: “We were interested to hear that Mr Kennedy claims the support of a number of institutional shareholders.
“Discussions that we, our advisors and Hawkwood have had with these shareholders paint a very different picture with all but one such shareholder indicating that they will vote in favour of the resolutions.”
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