No board bust-up, insists Reg Vardy
Saturday 10 April 1999
The company said Mr Potts, 41, was leaving to take up a position in the car industry and that his departure was "entirely amicable." However, he will be eligible for compensation for loss of office under the terms of his 12-month contract, which last year paid him pounds 290,000.
"There is no question of a bust-up," Mr Peter Vardy, the chairman, said. "I have known Graeme for years and I wish he'd stay forever. But he has been here 15 years and feels it is time to move on."
The company has courted further controversy with the announcement that Mr Vardy, who owns 30 per cent of the company, will add the chief executive's position to his responsibilities as chairman.
Mr Vardy denied that the company was flouting corporate governance best practice by allowing him to combine the two top roles. He said the balance of power would be maintained by the promotion of Robert Dickinson, a non- executive director, to non-executive deputy chairman.
In a current trading statement, Reg Vardy said trading had been strong this year and sales in March, when the new T registration was introduced, were particularly buoyant.
- 1 Crystal meth addict 'gouged out his eyes and ate them' while high on drug, Australian MP claims
- 2 As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
- 3 The ten most unequal developed countries in the world
- 4 Saudi Arabia 'seeking to head United Nations Human Rights Council'
- 5 Toddler throws a tantrum at the White House – in front of Barack Obama
JK Rowling horrified by Harry Potter actor Matthew Lewis's raunchy photoshoot
Saudi Arabia 'seeking to head United Nations Human Rights Council'
The ten most unequal developed countries in the world
Toddler throws a tantrum at the White House – in front of Barack Obama
Irish people are travelling home from all over the world so they can vote to legalise gay marriage
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
Report finds that Britain's wages are the most unequal in Europe
Almost a third of school pupils believe 'Muslims are taking over our country', study claims
The day that Britain resigned as a global power
Gay marriage 'Bert and Ernie' cake bakery found guilty of discrimination in Northern Ireland
iJobs Money & Business
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...
£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...
£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...