Management ban for Phoenix Four

Click to follow
The Independent Online

The former MG Rover directors know as the "Phoenix Four" have undertaken not to act in management roles for a number of years.

Peter Beale has been disqualified from acting in the management of a limited company for six years, John Edwards for three years and John Towers and Nick Stephenson for five years each, the Department for Business, Innovation and Skills said yesterday.

Ed Davey, the business minister in charge of corporate governance, said the disqualification undertakings by the former directors represented a "successful conclusion to a lengthy and complex investigation" into the collapse of MG Rover in 2005.

"The outcome of this case serves as an important reminder that unacceptable conduct by company directors can result in lengthy periods of disqualification," he added.