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Marconi braces itself for stormy shareholder meeting

Will the board go the full 12 rounds?

By Julian Goldsmith on 18 July 2001 11:10

NEWS The directors of Marconi are steeling themselves for a fight with shareholders at this morning's annual general meeting. The company's shares have fallen below 100p, its lowest price for 20 years. However, this is nothing to the anger shareholders have expressed at the board's attempt to revalue executive share options. If this were not bad enough, chief executive Lord Simpson faces a showdown with ex-colleague and some-time successor, John Mayo, who according to the Financial Times, was summarily sacked after the company issued a profit warning on 4 July. Receive news direct to your PDA:
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