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Feud triggers big pay-offs at Shepherd Neame.(Business)
- Article from:
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The Independent (London, England)
- Article date:
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October 7, 2004
- Author:
- Daley, James
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Copyright informationCOPYRIGHT 2004 Independent Newspapers (UK) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: James Daley
SHEPHERD NEAME, the 300-year-old brewer quoted on Ofex, saw more than pounds 800,000 wiped off its profits last year thanks to a family feud between its former vice-chairman, Stuart Neame, and his first cousin once removed, the company's chief executive, Jonathan Neame.
The former vice-chairman resigned from the group last autumn, after a dispute with the board over the company's strategy. Stuart Neame was calling on the group to split its pub and brewing operations, and to get the company's chairman, Robert Neame, who is also the current chief executive's father, to step down.
After the board refused to go along with his plan, Stuart Neame ...