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Southampton execs resign after deal falls through
England - 19 December, 2007
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English Southampton had three board members resign after the the club could not pull off a deal with SISU Capital.
The company opted instead for a takeover of Coventry City. With that, chief executive Jim Hone, chairman Ken Dulieu and commercial director Andy Oldknow all resigned. The three had backed SISU.
A statement on their behalf said that there was a considerable difference in opinion between them and the major shareholders. Three top shareholders — Leon Crouch, Rupert Lowe and Michael Wilde — had been blocking SISU's attempted takeover.
"Whilst the Company is under no immediate financial threat, continuation of the prudent financial regime established by Ken Dulieu and all the executives will be necessary to maintain financial stability," read a club statement.
The company opted instead for a takeover of Coventry City. With that, chief executive Jim Hone, chairman Ken Dulieu and commercial director Andy Oldknow all resigned. The three had backed SISU.
A statement on their behalf said that there was a considerable difference in opinion between them and the major shareholders. Three top shareholders — Leon Crouch, Rupert Lowe and Michael Wilde — had been blocking SISU's attempted takeover.
"Whilst the Company is under no immediate financial threat, continuation of the prudent financial regime established by Ken Dulieu and all the executives will be necessary to maintain financial stability," read a club statement.
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