EWM boss lined up as chairman at Stobart

Infrastructure group Stobart has confirmed that a group of key shareholders are manoeuvring to install Philip Day – head of the Edinburgh Woollen Mill business – as chairman of the firm.

The firm is under pressure from former chief executive Andrew Tinkler, former director Allan Jenkinson and a fund controlled by star investor Neil Woodfood.

The group owns 33 per cent of Stobart’s shares, and the company will now convene a meeting to allow all shareholders to vote on the appointment.

Stobart’s nomination committee will meet ahead of the vote to decide on its advise for shareholders.

The bid to appoint billionaire Day, who also owns high street retailers including Peacocks, comes amid a tense boardroom battle at Stobart.

Last week, Stobart unleashed a tirade against Tinkler, who was once chief executive at the company, for trying to boot out incumbent chairman Iain Ferguson.

Stobart expressed “full confidence” in Ferguson.