Spotlight On... William Stobart, Chief operating officer, Stobart Group

No prizes for guessing which company he's a part of, then?

Well no, it won't surprise you to find out that William Stobart is a member of the Stobart clan. In fact he's the son of Eddie, the lorry empire's founder, but up until yesterday the Stobart board was conspicuously absent of any actual Stobarts.

Until yesterday?

Yes, when Stobart announced that William Stobart is rejoining the board as an executive director. Eighteen months ago he stepped down – while staying as the chief operating officer – as part of a shake-up, with the company saying it would allow him to "focus full time" on the transport division.

So how did that go?

Apparently very well. According to Stobart's chairman, William is now able to "devote more of his time to wider operational issues after completing much of the restructuring work" in the unit.

Weren't there questions over a property deal recently?

Well, his time away from the board was not without some controversy, with Stobart Group agreeing a £101m deal to buy back 18 properties from WA Developments, which is owned by both William Stobart and the group's chief executive officer Andrew Tinkler (who happens to be William's brother-in-law). Stobart itself had sold the portfolio to WA Developments back in 2007 for £142m when the property market was booming.

And that wasn't contentious?

The company said an independent valuation of the portfolio put its worth at £98.9m, but that didn't stop shareholder group Pirc opposing the deal, saying there was "no basis to their conclusion that the acquisition had a fair price". It also claimed that, although William and Mr Tinkler were not voting on the deal, there were "inherent conflicts of interest in this transaction".

So shareholders did rebel?

In the end, no – shareholders passed the acquisition, with a little more than 2 per cent of the shares cast voting against the resolution. The task for the company now is to persuade investors that the stock is worth buying: Stobart's share price has slumped nearly 30 per cent since February 2011.

Start your day with The Independent, sign up for daily news emails
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs People

Ashdown Group: HR Manager - West London - £50,000

£40000 - £50000 per annum + bonus: Ashdown Group: HR Manager - West London - £...

Recruitment Genius: Recruitment & HR Administrator

£17000 - £18000 per annum: Recruitment Genius: This is an exciting opportunity...

Guru Careers: HR Manager / HR Business Partner

£55 - 65k (DOE) + Benefits: Guru Careers: A HR Manager / HR Business Partner i...

Recruitment Genius: Senior HR Assistant

£23000 - £25000 per annum: Recruitment Genius: The Company's vision is to be t...

Day In a Page

Greece says 'No': A night of huge celebrations in Athens as voters decisively back Tsipras and his anti-austerity stance in historic referendum

Greece referendum

Greeks say 'No' to austerity and plunge Europe into crisis
Ten years after the 7/7 terror attacks, is Britain an altered state?

7/7 bombings anniversary

Ten years after the terror attacks, is Britain an altered state?
Beautiful evening dresses are some of the loveliest Donatella has created

Versace haute couture review

Beautiful evening dresses are some of the loveliest Donatella has ever created
No hope and no jobs, so Gaza's young risk their lives, climb the fence and run for it

No hope and no jobs in Gaza

So the young risk their lives and run for it
Fashion apps: Retailers roll together shopping and social networking for mobile customers

Fashion apps

Retailers roll together shopping and social networking for mobile customers
The Greek referendum exposes a gaping hole at the heart of the European Union – its distinct lack of any genuine popular legitimacy

Gaping hole at the heart of the European Union

Treatment of Greece has shown up a lack of genuine legitimacy
Number of young homeless in Britain 'more than three times the official figures'

'Everything changed when I went to the hostel'

Number of young homeless people in Britain is 'more than three times the official figures'
Compton Cricket Club

Compton Cricket Club

Portraits of LA cricketers from notorious suburb to be displayed in London
London now the global money-laundering centre for the drug trade, says crime expert

Wlecome to London, drug money-laundering centre for the world

'Mexico is its heart and London is its head'
The Buddhist temple minutes from Centre Court that helps a winner keep on winning

The Buddhist temple minutes from Centre Court

It helps a winner keep on winning
Is this the future of flying: battery-powered planes made of plastic, and without flight decks?

Is this the future of flying?

Battery-powered planes made of plastic, and without flight decks
Isis are barbarians – but the Caliphate is a dream at the heart of all Muslim traditions

Isis are barbarians

but the Caliphate is an ancient Muslim ideal
The Brink's-Mat curse strikes again: three tons of stolen gold that brought only grief

Curse of Brink's Mat strikes again

Death of John 'Goldfinger' Palmer the latest killing related to 1983 heist
Greece debt crisis: 'The ministers talk to us about miracles' – why Greeks are cynical ahead of the bailout referendum

'The ministers talk to us about miracles'

Why Greeks are cynical ahead of the bailout referendum
Call of the wild: How science is learning to decode the way animals communicate

Call of the wild

How science is learning to decode the way animals communicate