David­stea di­rec­tor Roland Walton re­signs from board

The Telegram (St. John’s) - - BUSINESS -

MON­TREAL - David­stea Inc. says Roland Walton has re­signed as a di­rec­tor.

Walton was elected to the com­pany’s board of direc­tors last month as part of a group of dis­si­dent nom­i­nees that re­placed the ex­ist­ing board.

He is a for­mer pres­i­dent of Tim Hor­tons Canada.

David­stea co-founder Her­schel Se­gal led the share­holder re­volt to re­place the board at the com­pany’s an­nual meet­ing in June.

The fight also re­sulted in the res­ig­na­tion of chief ex­ec­u­tive Joel Sil­ver and saw Se­gal be­come ex­ec­u­tive chair­man and in­terim CEO.

Se­gal has pledged that the chain of tea shops will be­come prof­itable within a year and fo­cus on its Cana­dian roots.

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