Chai Patel abandons Care First challenge
Thursday 25 September 1997
Mr Patel quit the company last month after a power struggle with Mr Bradshaw. Mr Patel, who is now preparing to resign his non-executive directorship said: "We can take no more action. Everyone is disappointed, but the institutions felt that the price of going public on this was too high."
Andrew Crossley at Invesco, one of the shareholders leading the call to remove Mr Bradshaw, said: "In an ideal world, Keith Bradshaw would not be chairman. But in the end there was not sufficient appetite for a public punch-up. Fund managers felt the benefits of getting him out would be outweighed by a public scrap. We see no point in pushing the issue. We look forward to the recruitment of a new and strong chief executive." Another shareholder said: "I haven't spoken to anyone who thinks Bradshaw should stay. I am sure there will be lobbying behind closed doors, but no one was prepared to go public on it. But this is not the first time that shareholders have crumbled when it came to the crunch."
Paul Saper at Laing & Buisson said: ``Shareholders had a chance to turn around their investment. The company will now find it very difficult to solve its problems. I would not be surprised if staff start leaving."
Care First is expected to release a statement today about events of the last week.
- 1 Half of young women unable to ‘locate vagina’ and 65% find it difficult to say the word
- 2 Perez Hilton apologises for Jennifer Lawrence naked photo leak
- 3 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 4 Mexican woman becomes world’s 'oldest person' at 127
- 5 Jennifer Lawrence 'naked sex video' will be leaked threatens 4Chan celebrity photo hacker
Rotherham child sex abuse scandal: Labour Home Office to be probed over what Tony Blair's government knew - and when
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Ashya King: Parents of five-year-old boy refused permission to visit him in hospital and denied bail at Spanish court
With Douglas Carswell joining Ukip, my party has taken another giant step forward
When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
iJobs Money & Business
£40000 - £50000 per annum + benefits+bonus+package: Harrington Starr: SQL Impl...
£85000 per annum: Harrington Starr: Head of IT (Windows, Server, VMware, SAN, ...
£40000 - £50000 per annum: Harrington Starr: You will not be expected to hav...
£500 per day: Harrington Starr: SQL DBA/Developer SQL, C#, VBA, Data Warehousi...