Neil Bellis and Lucy Cummings have resigned from consultant after poor financial performance
Erinaceous founders Neil Bellis and Lucy Cummings have resigned from the troubled consultant.
Former chief executive Bellis, who recently stepped aside to become executive deputy chairman, and Lucy Cummings, chief operating officer will leave the company immediately.
Bellis and Cummings, his sister-in-law, had come under increasing pressure from shareholders to quit after poor financial performance, with 19% shareholder Fursa threatening to call an EGM over the issue. The pair had gone on gardening leave two weeks ago, but had been refusing to accept a deal to resign.
Erinaceous chairman Nigel Turnbull said: “I am pleased that the issues raised by the shareholders' EGM requisition have been addressed satisfactorily. Over the past two months we have restructured the board, appointed new corporate management, and strengthened our team of professional advisors. The board's focus now is to complete the strategic review announced at the interim results."