Knight Vinke grabs seat on Darty board

Activist investor Knight Vinke has forced its way onto the board of the struggling electricals retailer Darty, which today issued a profits warning.

Knight Vinke — which in the past has opposed bonuses at HSBC — has exercised its right as an investor to a board seat at Darty, which it accused of further dithering after taking more than six months to implement its recommendations.

Alan Parker, former head of coffee-to-hotel group Whitbread, is the chairman of Darty, which operates the eponymous chain in France and sold the UK retailer Comet a year ago for £2. The electricals chain shut all its shops in Britain just before Christmas.