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Business & education services

Stobart Group showdown set for July 6

Retail entrepreneur Philip Day has been put forward replacement chairman

Airport and energy group Stobart Group Limited (LON:STOB) has rescheduled its Annual Meeting for July 6.

Former chief executive Andrew Tinkler has already indicated he will vote against the re-election of chairman Ian Ferguson and has put forward well-known retail entrepreneur Philip Day as his replacement.

READ: Stobart Group's former CEO ups pressure with chairman nomination

Tinkler owns 7.7% of the shares and has the backing of Woodford Investment Management and Allan Jenkinson, who between them have a further 25.5%.

Two Stobart directors, John Coombs and Andrew Wood, have indicated they will step down as non-execs if Ferguson is voted out.

Fund manager Invesco has also said it will vote its 24.8% stake in support of Ferguson.

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