Bowleven directors ousted after bitter investor battle
Kevin Hart, the chief executive of Edinburgh-based oil and gas explorer Bowleven, has been ousted after a bitter battle with a rebel investor.
Following a general meeting called by Crown Ocean Capital, Hart saw 53.32 per cent of shareholder votes cast in favour of his removal.
• READ MORE: Oil explorer Bowleven prepares for investor clash
The vote has also triggered the immediate departure of finance director Kerry Crawford, along with non-executives John Martin, Tim Sullivan and Philip Tracy.
However, chairman Billy Allan narrowly escaped the purge, with 50.65 per cent of the votes going against his removal. He will remain in his post, as will chief operating officer David Clarkson.
Crown Ocean Capital succeeded in having two of its own nominees appointed to the Bowleven board – corporate lawyer Christopher Ashworth and turnaround specialist Eli Chahin.