National Express faces new unrest in the boardroom
National Express's biggest shareholder, the Cosmen family with 20%, is expected to throw its weight behind a US activist investor that is seeking to shake up the transport company's board – and possibly garner support for a break-up.
Last week, American hedge fund Elliott Advisors, which holds 17%, disclosed it was asking shareholders to vote for three new independent non-executive directors at the annual meeting next month. Its proposals need the support of over 50% of investors.
Analysts said they suspected the move from Elliott was an attempt to bounce management under Dean Finch into... read more
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