Un­der Lok and key

Finweek English Edition - - COMPANIES&MARKETS -

YOU’D BE FOR­GIVEN for mis­tak­ing Wil­liam Tell’s re­cent board shuf­fling with a day­time TV soapie. The re­trench­ment of group CEO and founder

– pur­port­edly af­ter a bout of strange be­hav­iour – quickly fol­lowed the an­nounce­ment of MD Wally van Coller’s im­me­di­ate and un­cer­e­mo­ni­ous sus­pen­sion. Things were clearly un­ten­able, be­cause it’s not ev­ery day you see the ma­jor­ity share­holder of a fam­ily-owned com­pany booted out.

Ac­cord­ing to re­ports, Lok’s para­noia had reached spy-thriller pro­por­tions. That made the sub­jects of his ac­cu­sa­tions – from his ex­ec­u­tive team down to the av­er­age fac­tory worker – feel jus­ti­fi­ably awk­ward. The ques­tion is: Did Lok chase Van Coller away? If so, surely Van Coller should be re­in­stated?

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