Apr 10, 2017

Hornby investors clash over chairman’s future

Toy manufacturer Hornby is facing a clash between its two major shareholders after its second-largest investor made a formal request for the removal of chairman Roger Canham. Mr Canham is also chairman of Phoenix Asset Management Partners, Hornby's largest shareholder with a 34 per cent stake. Mr Canham joined Hornby in 2012 and became chairman in February 2013 - briefly acting as executive chairman ahead of the appointment of chief executive Steve Cooke last year. Mr Anton, who was approached by New Pistoia over concerns about the management of Hornby last year, is a non-executive director and former chairman of Aim-listed Victoria, the UK-based carpet maker. The move to oust the chairman comes amid signs that Hornby is back on track.

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