COWIE Interleasing has appointed a new managing director following the dismissal of Neil Pykett and the failure of his appeal. Replacing Pykett as managing director of Cowie Financial Holdings, which includes Cowie Interleasing, is Michael Gwilt, who joined the company in 1984 and since 1994 has been managing director of Cowie Interleasing North and Scotland.

Pykett was dismissed without compensation after a boardroom power struggle. His appeal was heard by non-executive directors who reported their findings to the full Cowie Group board. Gwilt (39) joined Cowie Interleasing as a sales consultant and rose to sales and then sales and marketing director before taking over Cowie Interleasing North