LONDON: Dubbed by UK newspaper The Observer "the most-hated manager in British journalism", Mecom ceo David Montgomery has survived an attempt by five non-executive directors and the company's finance director to unseat him.
In the wake of Mecom's latest asset disposal,
the sextet – Jan Houwert, John McNeil, Robin Miller, Richard North, Robert Pieterse and group finance director John Allwood – approached the group's key investors to express their growing disquiet as to Montgomery's stewardship of the group.
But, rebuffed by shareholders, the six have resigned. Speaking on behalf of his colleagues Richard North told a hastily convened press conference that their action was "what we believed was the best course of action for the company".
"The shareholders did not agree with it and we entirely respect their decision." In those circumstances, North declared, "the only honourable thing to do was to resign".
"There have been a series of occasions when we have had differences with David [Montgomery] over which decisions were matters for the board and then secondly properly respecting the board committee decisions and implementing them."
These concerns had been "of real substance over a period of many months" and despite the sextet's best efforts to resolve these issues, it had not been possible.
Data sourced from Guardian.co.uk; additional content by WARC staff