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Cordiant faces call to sack board.(shareholder announces proposal for new management team)(Brief Article)
The Cordiant board directors this week faced calls for their removal as one of the shareholders in the beleaguered group announced proposals for a new management team to rescue the company.
Active Value, which holds 14.1 per cent, is calling for an Extraordinary General Meeting to table plans for a new team. Richard Wheatley, the former chief executive of Jazz FM and a former chief of Leo Burnett, is being proposed as the executive chairman of the group, with Stephen Davidson, the vice-chairman of investment at WestLB, as the finance director.
Active Value is willing to invest pounds 15 million as part of a proposed pounds 30 million to pounds 40 million rescue investment package. 'It's too early to have any plans for turning the company round, but the fact that shareholders are willing to continue investing is encouraging,' Wheatley said.
The proposals have been dismissed by potential bidders for Cordiant as unworkable. ...
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...torpedo WPP Group's bid for Cordiant Communications Group. Active Value's attempt to sack Cordiant's board of directors and install new management hit the rocks last week when...effect a change of control at Cordiant, even though doing so could...
- Cordiant draws a curtain on a disastrous year
- Newspaper article from: The Independent - London March 13, 1996 700+ words
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- Magazine article from: Advertising Age Atkinson, Claire Wentz, Laurel May 5, 2003 700+ words
...Publicis Groupe is circling the assets of Cordiant Communications. Not only does it look...pick up Allied Domecq, which exited Cordiant last week, but it is also eyeing a handful...the world's No. 2 distiller, a key Cordiant client, almost forced the holding company...
- For Cordiant, it's lonely in the middle; Weak market, battered stock mean...
- Magazine article from: Advertising Age Cardona, Mercedes M. August 13, 2001 700+ words
Cordiant Communications Group has gone from the agency most...Group of Cos. and last year's acquisition of former Cordiant sibling Saatchi & Saatchi by Publicis Groupe, Cordiant and Grey Global Group are the only major midsize global...
- Cordiant Communications Group PLC ('Cordiant') Preliminary Audited Results For...
- Press release article from: PR Newswire March 8, 2001 700+ words
LONDON, March 8 /PRNewswire/ -- Cordiant Communications Group plc (NYSE: CDA) ("Cordiant") is the world's tenth largest global...spanning 80 countries (including affiliates), Cordiant has the international reach and local expertise...
