Chesterton International fell 2.25p to 9p after yesterday’s announcement that chief executive Lorraine Baldry had quit “to pursue other interests”.
Neil List, a member of one of the parties that held talks with the company about a possible management buy-in recently, replaced her. The company also appointed Mike Backs as chief operating officer.
Chesterton reported a £6.1m pretax loss on turnover of £167.2m in the year to the end of June. It has decided not to entertain further approaches for the company and has ended existing talks.
References: Financial Times 14/02/03 page 24, The Times 14/02/03 page 30 (Need to know), page 31, The Daily Telegraph 14/02/03 page 36, The Independent 14/02/03 page 22, page 24 (Market Movers)
