An Anglia spokesman said Lady Archer had advised David McCall, Anglia's chairman, early in December that she wished to retire in February after serving eight years as a non-executive director. Lady Archer was abroad yesterday and unavailable for comment.
Her decision follows the storm created by revelations of her husband's dealing in Anglia shares, which sparked off a Department of Trade and Industry Inquiry. Lord Archer placed orders for shares days before MAI, Lord Hollick's media group, made an agreed £300m bid for Anglia. The shares were subsequently sold and reaped a profit of £80,000.
Lord Archer said he made no personal gain as the shares were bought on behalf of a Kurdish business associate, Broosk Saib. He publicly apologised for the needless embarrassment he had caused his wife. Lady Archer insisted she had not informed her husband of the impending takeover.
The DTI investigation into allegations of insider dealing was never published, but last July the DTI said it would take no action. In September the Stock Exchange also announced it would take no action as a result of its inquiries.Reuse content