The Stobart Group has called for its shareholders to vote down former chief executive officer (CEO) Andrew Tinkler’s proposal to become a director of the company.
Stobart said today in a regulatory release that Tinkler had served notice on the company on 28 June that he intends to propose himself as a director at the company’s annual general meeting (AGM) on Friday.
Tinkler was previously fired from the board of directors on 14 June after becoming embroiled in a bitter public row with its board.
Tinkler has called for the resignation of chair Iain Ferguson and instead favours the candidacy of Edinburgh Woollen Mill boss Philip Day,
“The board considers, were a resolution to appoint Mr Tinkler as a director to be proposed, that its passing would not be in the best interests of the company and shareholders as a whole,” today’s statement read.
Previously the company has said it is concerned that “Tinkler and his associates are attempting to secure control of the company”.
A spokesperson for Tinkler said: "What was not in shareholders’ best interests was the illegal removal of Andrew from the board. Andrew wants to shareholders to be able to choose, a right the chairman seems unable to grasp.”
The company has sued Tinkler for breach of contract and breach of fiduciary duty.
In turn Tinkler has sued the company accusing it of defamation.
At the weekend it emerged that Stobart shareholder M&G Investments had intervened in the row, proposing prominent businessman and retail veteran Allan Leighton as a compromise candidate for the chair role.