The board of Stobart Group Ltd (LON:STOB) has told shareholders that the re-appointment of former executive director Andrew Tinkler would not be in the best interests of the company.
Stobart served notice on Tinkler earlier this month, summarily terminating his employment.
READ: Stobart serves notice on exec director
At the time, chief executive Warwick Brady said: “Mr Tinkler's actions, particularly in recent days, have threatened to destabilise the company and severely impacted my ability and that of my team to manage the business on a day to day basis and deliver the agreed strategy.”
Last week, Tinkler gave notice that he intends to propose himself for re-election at the upcoming annual general meeting.
READ: Stobart urges shareholders to back chairman
“For the reasons set out in the company's announcements of 14 and 15 June 2018, the board considers, were a resolution to appoint Mr Tinkler as a director to be proposed, that its passing would not be in the best interests of the company and shareholders as a whole,” read a statement on Monday.
“Accordingly, the board recommends that the shareholders vote against any resolution to appoint Mr Tinkler as a director, if proposed at the annual general meeting.”
Stobart shares rose 5% to 241.4p in mid-afternoon trading.