Andersen facing crucial SSL vote
SSL international has announced the appointment of a non-executive chairman two days before a crucial annual general meeting that may seal the fate of its auditors.
Ian Martin, former chairman of food producer Uniq, is to replace Stuart Wallis in September.
According to a company spokeswoman, Wallis said he would step down at the end of July before the accounting problems were discovered. But he agreed to stay on until Martin joins the company in September following a request from the board.
Martin, who is also non-executive chairman of 365 corporation, worked for 14 years at Grand Metropolitan and at Inter-Continental Hotels. He was chosen for his experience with high0-profile brands in a marketing environment.
Wallis said: ‘It has been a difficult period for SSL but the necessary actions have been taken to put the company on a strong footing to benefit from its leading market positions and strong brands.’
The appointment comes just two days before the maker of Marigold gloves and Durex condoms is to hold its annual general meeting. At the meeting, shareholders are expected to decide whether to reappoint Andersen as their auditor.
According to the spokeswoman, SSL would have more to say on the topic at the agm, but the proposal of the reappointment of auditors is on the agenda.
The company said it would not comment on the reappointment until the investigation was concluded, which it hoped would occur before the agm. Today, the spokeswoman said she was not aware whether the investigation had been completed or not, adding there were no updates.
Links
Andersen faces shareholder vote over SSL