The
Today, it said that Gregory, who became chief executive in 2018, should “resign and be replaced by a CEO of industry competency, as soon as possible”.
It said that Brady’s eight year tenure has “had no positive material impact on the company”.
The attack comes after
Although it had long pushed for the firm to sell First Transit and First Student, it said that the deal was a “most imprudent business decision”.
Coast was particularly critical of Steyn’s role in the sale, saying she “consistently turned a blind eye to the board’s fiduciary shortcomings and breaches and has demonstrated no independence of thought”.
“We note that
“As a result, there was a decline in share value. Furthermore, the disposal of North American operations means that her background is no longer required by
A
“The transaction, now approved by a majority of shareholders, enables the Group to return £500m of value to all shareholders, address its long-standing liabilities and make a substantial contribution to the pension scheme deficits.
“We consistently engage on a variety of topics with all our major shareholders. We have carefully considered Coast Capital’s various outline and initial ideas for the business over time.”
The post
© City AM, source