Non-exec lined up to chair gaming group
Investor pressure could force greyhound racing and gaming group Wembley plc to appoint an accountant as its new executive chairman.
According to the FT, Wembley is facing calls from Fidelity and Schroders, which together own 24.5% of the company for Claes Huttman, the incumbent executive chairman to stand down and be replaced, by Neil Chisman, currently a non-executive director at the group.
This call comes as two senior executives in the US face criminal charges. The company said it would take a £2.5m charge to reflect legal costs of the US lawsuit, but said last week the allegations were ‘without foundation and the two executives continue to have its full support’.
Chisman was, up until October 2002, a member of the Financial Reporting Council and was also finance director of Stakis plc, the hotel and casino operator.
Speaking to Accountancy Age, Chisman declined to comment.