Connecting to LinkedIn...


Sickly staffing firm Healthcare Locums faces shareholder fury

Sickly staffing firm Healthcare Locums faces shareholder fury
Investors in beleaguered medical staffing firm Healthcare Locums are planning a revolt this week and calling for chairman Alan Walker to be sacked.
A leading shareholder told the Mail that an extraordinary general meeting will be called to oust Walker possibly as early as today.
The move will fuel speculation that companies face a new age of investor activism in the wake of this months shake-up at F&C, where the chairman was forced out.
Walker took over day-today management two weeks ago after serious flaws emerged in HCLs accounts. Shares were suspended at 112.5p, having traded above 280p early last year.
The crisis also led to the suspension of founder and executive vice chairman Kate Bleasdale, the former nurse who won 2.2m in a sexual discrimination case in 2002.
Walker launched an investigation into the accounting irregularities but investors are understood to be unhappy at his enhanced role and claim he had been asleep at the wheel.
One leading shareholder said: Alan Walker has presided over this debacle for the last 12 months, which witnessed share declines in excess of 65pc in 2010.
That he feels he is best positioned to lead the company and refuses to consider more qualified alternatives proposed by his shareholders is frankly just bizarre.
He is an accountant who was paid by shareholders to provide supervision and he has failed miserably. His credibility is close to nil.
The investor wants Michael Sinclair to take over as chairman and Andy McRae, who runs HCLs Australian business, to be chief executive.
An HCL spokesman said: We are continuing the investigation. We hope investors await the outcome before making any decisions.


Articles similar to

Articles similar to