Van Elle row escalates as founder hits out at board

The row between the former owner of Nottinghamshire piling company and its board has escalated this morning.

Michael Ellis, the former chairman and founder of Van Elle, has responded to a statement last week branding him “disruptive and damaging” to cotinue a very public row over the running of the listed firm which will culminate in a General Meeting on Friday, at which Ellis is hoping to be voted back onto the board.

In a statement to the London Stock Exchange, Ellis berates the board of Van Elle for launching “personal attacks” against him.

Ellis continues: “The board of Van Elle accuses me of being disruptive, self-interested and unable to let go, this is untrue. I stress – I care deeply about Van Elle and all of its employees and stakeholders.

“I am proud of what the company had become at IPO and am keen to return to the growth trajectory it enjoyed under my leadership prior to the IPO. However, the decision to IPO was mine and I both understood and appreciated the consequences of that.

“I welcomed all new shareholders who I wanted to share in Van Elle’s success. As my family are the largest shareholder our interests are aligned. My success should be their success. If my proposals are implemented at the General Meeting and I am able to return the Company to where I believe it can be, all will benefit.

If I am disruptive, it is with cause. I will unashamedly highlight the inadequacy and complacency of the current board since it is in the interests of all shareholders to do so.”

Ellis goes on to say that he believes the board of Van Elle needs strengthening, adding: “The current board appears more concerned about self-preservation than implementing a strategy for growth.”

He also blames a “weak and aloof” management team for poor staff motivation and questions to the staff turnover figures.

The move comes after a public spat which has seen Ellis, who left the company after it floated last year, express concerns over the running of the company – and in particular his desire to see chief executive John Fenton and another director removed from the company.

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 shareholders to vote on him returning to the boardroom.

Fenton has since said he is leaving the company due to a serious family illness.

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