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(Alliance News) - Trustpilot Group PLC has launched a search for a new chair to replace Tim Weller little more than a year after listing on the London Stock Exchange, Sky News reported Tuesday.
The Copenhagen-based online review platform has appointed headhunters from the Up Group to find a successor, in a search led by Senior Independent Director Angela Seymour-Jackson.
However, several shareholders are reported to be opposed to Weller's replacement, arguing that it reinforces flaws in corporate governance guidelines, which state that non-executive directors cease being independent after nine years of service.
https://news.sky.com/story/ratings-review-platform-trustpilot-kicks-off-hunt-for-new-chairman-12633573
Trustpilot floated at 265 pence in March 2021, however the company's shares closed on Tuesday at 79.10 pence, marking a 70% decline since its IPO, and a market capitalisation of GBP333.3 million.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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