Turmoil at Van Elle as chief executive steps down

The chief executive of Nottinghamshire piling company Van Elle is to step down, it was revealed this morning (22 November).

Jon Fenton will leave the company due to “a serious medical matter within his close family, which has become acute in recent weeks,” Van Elle said.

Fenton will stay with the company until a successor is found.

Adrian Barden, chairman of Van Elle, said: “Jon has played an important role in the significant growth and development of the Company in recent years for which we are very grateful. He and the management team have delivered a robust performance in the first half and the Group is well placed for the future.

“Whilst we are disappointed that Jon cannot continue as chief executive in the long term, the Board understands and supports Jon and his family in this decision. Van Elle is fortunate to have strength and depth across our management team and whilst Jon will remain in post until his successor is appointed, we have organised responsibilities amongst the team to ensure continuity and also to allow Jon to take time away from the company as required.”

The news comes a week after founder Michael Ellis launched an attempt to try and remove Fenton and senior independent director the firm.

He wrote to Van Elle to try and force a general meeting so that his plans can be voted on. Ellis, who has a 6% shareholding in the company but is understood to control around a fifth of the firm, is also said to demanding senior independent director Robin Williams to step down and wants shareholder to vote on him returning to the boardroom.

Van Elle has now called a meeting for 15 December in London. This morning, the company said: “The Board believes the Ellis Resolutions reflect the failure by Mr Ellis to accept that Van Elle is no longer his private family business and that the Ellis Resolutions serve to promote the interests of Mr Ellis and his family, not necessarily to the benefit of the company and its other shareholders.

Barden added: “The requisition by Michael Ellis is simply an attempt by him to gain greater control over the business at the expense of other shareholders. He seems reluctant to accept that Van Elle is no longer his private family business and that it is now subject to full and proper corporate governance.

“Van Elle is a business in good health, has a strong management team and has an exciting strategy to grow the business over the medium-term.

“The Board unanimously and strongly recommends that shareholders vote against all the resolutions.”