The Board of Nottinghamshire piling company Van Elle has responded to concerns raised by its founder and former chairman Michael Ellis as “disruptive and damaging” .
The statement comes after Ellis, who left the company after it floated last year, expressed concerns over the running of the company and in particular his desire to see Chief Executive John Fenton and another director removed from the company.
Ellis, who controls around 20% of the firm, is also said to be demanding that senior independent Director Robin Williams should step down.
This morning, Van Elle issued a long statement, refutuing Ellis’s allegations, including those he made about staff morale, the failure of the company to undertake an acquisition and the trading performance of the firm. Van Elle also said that Ellis’s actions “could adversely impact the proper succession process for Chief Executive Officer.”
Van Elle has called a meeting for 15th December in London, where the Ellis resolutions will be voted on.