Sean Collidge’s departure three months ago as executive chairman of Freeport followed the threat of an investigation into his conduct by the company’s board, according to a statement issued by the company yesterday.
Collidge, 63, who founded the European retail park developer 14 years ago, stepped down from the job on 31st March.
Yesterday, Freeport said that its board had, earlier this year, decided to suspend Collidge “pending an investigation into his conduct relating to allegations made about him”.
Freeport said these allegations were financially immaterial.
Collidge has meanwhile launched a High Court action against Freeport.
References: Financial Times page 17 10/06/06, Daily Telegraph page 25 10/06/06, Times Business page 46 10/06/06
