Activist investor seeks vote to appoint new Mears chairman

(Reuters) – Shareholder Value Management (SVM) has called for a shareholder vote to appoint Andy Hogarth as chairman of Mears Group (MERG.L), a fund advised by Frankfurt-based SVM said on Tuesday.

Activist investor SVM had previously sought to appoint former Staffline CEO Hogarth as an independent director at the British social housing and care company.

Mears said last week that chairman Bob Holt would not stand for re-election at the company’s 2019 annual general meeting after SVM called for his removal, citing underperformance by the company.

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