Funeral provider Dignity said 55 per cent of votes cast by shareholders backed a motion to remove Clive Whiley as a director
Dignity’s chairman has been ousted in a coup led by the firm’s biggest shareholder.
The funeral provider said 55 per cent of votes cast by shareholders backed a motion to remove Clive Whiley as a director.
Shareholders backed the argument for change at the top made by Phoenix Asset Management, which has built up a 29.9 per cent stake in Dignity in recent years.
They also backed Gary Channon, who was nominated by Phoenix, to join the board. He gained 61 per cent of the vote.
Only 88 per cent of potential votes were cast at the meeting, meaning Phoenix convinced a little under 19 per cent of Dignity’s share base to vote for the motion.
Whiley will step down immediately, joined by independent directors Gillian Kent and Paul Humphreys, who believe their positions have become ‘seriously compromised’ by the vote.
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