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Article: Forte splits top jobs to fend off Granada

Article from:
The Independent (London, England)
Article date:
January 16, 1996
Author:
Copyright

DAVID HELLIER

Forte, the hotels and restaurants group trying to fend off a pounds 3.8bn hostile takeover bid from Granada, the television to leisure group, yesterday responded to shareholder pressure and agreed to separate its top two jobs in an attempt to retain its independence.

Forte announced that its deputy chairman, Sir Anthony Tennant, will be promoted to non-executive chairman from 1 February. Sir Rocco Forte, the current chairman and chief executive, will drop his chairman's role.

The move comes eight days before the bid timetable comes to a close and ends a three-year period during which Sir Rocco, son of the company's founder, Charles, held the posts of chairman and chief ...

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