Top men quit at Lilleshall

Article Abstract:

Lilleshall's chairman and chief executive, Peter Ryan and John Leek respectively, will quit on 24 July 1998 in the wake of a profits warning for the opening half of 1998 and the year as a whole. The UK-based group, which makes building products, plastic components and fasteners, says that setbacks in virtually all but its fastener unit will lead to lower group profits. Its plastic housewares unit and windows and conservatories units are having a bad time although its Rencol and Molbry operations are faring better. It was previously projected that group profits in 1998 would increase by GB 5mn-GB 6mn. Lilleshall will sell its Northfleet-based Re'an Products unit, which manufactures electrical components, connectors and plastic control knobs, to US-based Neutrik Marketing in a GB 3mn deal.

Comment:

Chairman & CEO to quit on 7/24/98 in the wake of a profits warning for the opening half of 1998 & the year as a whole

Diversified Companies, Lilleshall PLC

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Tandem shareholders vote in rebels

Article Abstract:

UK-based bicycle manufacturer Tandem's shareholders backed moves to oust the chief executive, Robin Bromley-Martin, together with two directors on 30 June 1998. John Sanderson will become the new chief executive, with Harry Turpin and Maurice Cowen to replace Govert Brasser and Keith Hamer as directors. The new team plans a reverse takeover, with Tandem to become a racecourse management business. Mr Sanderson's private firm, International Racecourse Management (IRM), owns Catterick, Redcar and Doncaster racecourses.

Comment:

UK-based bicycle mfr's shareholders backed moves to oust chief executive together w/ two directors on 6/30/98

Motorcycle, Bicycle, and Parts Manufacturing, Bicycles, Tandem

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The accidential tourist: Philippe Bourguignon left the wonderful world of Disney to bring a new style to the holiday villages of Club Med

Article Abstract:

Club Mediterranee Chmn Philippe Bourguignon dislikes being associated with reviving the fortunes of ailing companies. He regards this process as merely creating a position from which he is able to run a business for the longer term. He emphasizes that this recovery strategy for Club Mediterranee is based on the rebuilding of the brand, the strength of which impressed him when he joined the company in Feb 1997. He believes that no other company is looking at leisure time in a global way.

France, Travel Agents, Travel Agencies, Hotels & Motels, Hotels (except Casino Hotels) and Motels, Officials and employees, Travel industry, Interview, Hotels and motels, Tour operators, Club Mediterranee S.A., Bourguignon, Philippe

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