Stobart Group Executive Director, Andrew Tinkler has been sacked and removed from the Board of Directors.
In an email sent to staff, Warwick Brady CEO of Stobart Group said: “The ongoing board has today taken the very difficult decision to dismiss Andrew Tinkler from his employment with Stobart Group and remove him from the Board of Directors.
“We are aware that this news will likely come as a shock to many of you who have known Andrew for many years, and I can assure you that it was not a decision that we took lightly. I want you all to know that you should feel free to contact me if you would like to discuss this.
“It is important that you understand the background behind this decision. As you will be aware, Andrew Tinkler, having enrolled two other shareholders, has engaged in a campaign to attack our Directors with a view to replacing our Chairman with his own choice. During this campaign, which has now become very public, Andrew has not upheld his responsibilities, either as a Director or an employee, to work in the best interests of Stobart Group.”
Stobart Group issued the following statement: “The Company announces that, following the receipt of comprehensive legal advice, it has today served notice on Andrew Tinkler, summarily terminating his employment with the Stobart Group. Mr Tinkler will cease to be a director with effect from today’s date.”The Company will also be issuing legal proceedings imminently against Mr Tinkler for, amongst other things, breach of contract and breach of fiduciary duty.
“The Company will be writing to shareholders shortly to provide them with further information on the situation, including its concerns that Mr Tinkler and his associates are attempting to secure control of the Company.”
Warwick Brady, CEO of Stobart Group, said: “Mr Tinkler’s actions, particularly in recent days, have threatened to destabilise the Company and severely impacted my ability and that of my team to manage the business on a day to day basis and deliver the agreed strategy. This is against the interests of all of our shareholders.”