PracticeAuditMajor quits Mayflower audit committee

Major quits Mayflower audit committee

John Major, the former prime minister, is to step down as a non executive director and chairman of the audit committee at Mayflower, the automotive engineering group.

Other stories Mayflower weeds out Andersen

Major announced he would not seek reappointment yesterday even as he bought more shares in the company.

The former Tory PM will step down when his current term comes to an end at the company’s AGM on 10 April.

His departure comes just a month after Mayflower restated its accounts for the past two years and halved its dividend.

Major’s stake in Mayflower was boosted yesterday when he bought 1177,527 shares at 11.5p. His holding in the company now stands at 0.11%.

Mayflower was one of the first companies to drop Andersen as auditor in the wake of the Enron scandal.

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