Market moves: restructures and resignations
The blood is well and truly covering the floor this month with three high profile departures and the sacking of an entire board. But there was better news for one of their peers who has found his way back into the market in double quick time. What has been influencing some of the departures seen in recent months are the restructures that companies indulge in when they don’t know what else to do or when they have to react to tough times – there have been a few in the last month.
The shock news last month was the summary dismissal of the entire executive board at Swinton as a result of parent company Covea’s unhappiness with the board’s behaviour around bonuses. What exactly led to the dismissal of Peter Halpin, Anthony Clare, Jackie Ordish, Adrian Hazeldine and Nick Bowyer remains unclear, but the regulator has been informed and there have been whispers of legal action. This one is not going to go away anytime soon and nor should it. An entire board. Sacked. That kind
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