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2 clusters · 5 sources · 4 days · First seen · Last updated

The Works and Kelso Group boardroom dispute

Overview

A boardroom dispute has emerged between UK retailer The Works and activist investor Kelso Group regarding board composition. Kelso, which holds a 10 per cent stake, is advocating for the appointment of Graeme Coulthard, a former private equity partner, to the company’s board.

The Works has unanimously urged shareholders to reject the appointment, arguing that Coulthard lacks relevant multi-site value retail experience and that his presence would create an “unnecessary distraction” that could undermine the company’s growth strategy. Following the company’s opposition, shares in The Works fell by more than five per cent.

The conflict intensified as Kelso labeled the retailer’s claims “absurd” and “misleading.” In addition to backing Coulthard, Kelso has raised questions regarding the leadership of board chair Steve Bellamy, specifically requesting clarity on his residency in New Zealand and his physical attendance at annual board meetings.

Entities

The Works · Kelso · Steve Bellamy · Graeme Coulthard · John Goold

Timeline

  1. 26 days ago

    [BUSINESS] 2 sources
    The Works faces boardroom battle with activist investor Kelso

    UK retailer The Works is in a dispute with investor Kelso over the proposed board appointment of Graeme Coulthard and the physical attendance of board chair Steve Bellamy.

  2. 29 days ago

    [BUSINESS] 3 sources
    The Works faces boardroom battle with activist investor Kelso

    The Works is facing a boardroom battle with activist investor Kelso Group, which is pushing to appoint former private equity executive Graeme Coulthard to the retailer's board.

Sources

eveningstandard.co.uk · memesita.com · psychoanaliza.org.pl · retailgazette.co.uk · worldstockmarket.net