Invesco Perpetual forces Stobart chairman exit - reports

Invesco Perpetual pressured the veteran chairman of road haulage company Stobart to step down as the company's share price has struggled to perform, according to reports.

Rodney Baker-Bates, the company's veteran chairman is to step down with immediate effect after shareholder Invesco Perpetual reportedly called for his resignation. Stobart's chief executive Andrew Tinkler will run the business with new chairman Avril Palmer-Baunack, who was head of logistics business Autologic, which was acquired by Stobart last year. Invesco owns 37% of the company and has previously been known to push for changes in management, under its head of UK equities, Neil Woodford. Other investors said the departure of Baker-Bates was down to a single shareholder, accordi...