Shareholders oust Trian 1 Investors chair

Narrow 50.72% to 49.28% vote

Shareholders of Trian Investors 1 Limited (TI1) voted to remove Chris Sherwell as director and chair at the extraordinary general meeting held last Friday (5 August).

The EGM was called by a committee of independent investors, made up of Global Value Fund, Invesco, Janus Henderson Investors UK and Pelham Capital back in June via an open letter over concerns of TI1's governance. The committee called for several changes to be voted on at the EGM, one of which was removing Chris Sherwell from the board. This vote narrowly passed with 50.72% of those in favour. Another change was Robert Legget's appointment to the board, which was also voted through with the same majority. Bestinvest's Spot the Dog finds fewest underperformers in six years Legget...