Boardroom shake-up at Booker

BOOKER, the troubled food distribution group, is set to announce a boardroom shake-up within the next three weeks in an attempt to shore up its plunging share price and win back the confidence of major shareholders.

The move will include the departure of chairman Jonathan Taylor (pictured below) and the appointment of a new chief executive from outside the group. Booker has a shortlist of two candidates for the chief executive's post, but has yet to make a decision on the appointment.

The move comes amid suggestions that other bidders, including financial buyers, may be preparing to launch a bid for Booker. The company's shares last week fell to a new 12-month low of 107p as it called off merger talks with the convenience story group Budgens. Earlier Booker failed to agree a deal with the supermarket group Somerfield.