Ferranti recruit

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The Independent Online
Sir John Clark, the former chairman and chief executive of Plessey, has accepted an invitation to join the Ferranti Shareholders' Association, just days after Ferranti was forced into receivership by GEC's decision to withdraw its nominal 1p-a- share offer for the company.

Sir John, who with his wife is a Ferranti shareholder, has decided to support the association out of concern for the future of the group's employees and creditors, and in the hope that some sort of rescue may be possible for shareholders.

The Ferranti shareholders' association, which has been criticised in some quarters for its opposition to the abortive GEC offer, says that Sir John's wide and close connections in the electronics industry will enable it to ensure that potential buyers for Ferranti, or parts of the company, are encouraged to make offers to the receivers, Arthur Andersen.

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