Fleet News

Pykett resigns but war goes on

THE war of words between the Cowie Group and Neil Pykett continued this week, despite the decision of Pykett to resign as a director of the company just three days before an extraordinary general meeting of Cowie shareholders was due to convene to remove him from the board.

He has now lodged a claim for unfair dismissal with an industrial tribunal - which has the power to award a plaintiff a maximum of £3,600 and a compensatory award capped at £11,300 - and will pursue a claim for around £1 million in compensation in the law courts. Pykett said the tribunal would give him the opportunity to question the chairman and chief executive of Cowie Group in an open, public court.

For legal reasons the EGM could not be cancelled, although shareholders were advised there was no point in attending. Sir James McKinnon, chairman of Cowie, said: 'Mr Pykett's actions, in forcing the company to convene the EGM and then resigning at a very late moment, demonstrate again his desire to put his own interests before those of the company.' By 10am on April 7 the Cowie Group had received 85,199,284 proxy votes in favour of Pykett's dismissal, compared to 6,640,453 against.

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