Directorate Change
S & U PLC announced the immediate resignation of director Graham Wheeler from its board to avoid any potential conflict of interest, following Hodge Bank's acquisition of Blue Motor Finance, a company operating in the same sector as S&U's subsidiary, Advantage Finance. Wheeler had served S&U for six years, previously as Chief Executive of Advantage Motor Finance and then as a non-executive director. The company chairman expressed gratitude for Wheeler's wise decision and invaluable counsel.
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Following the acquisition by Hodge Bank, of which he is a director, of Blue Motor Finance which operates in the same sector as Advantage Finance, an S&U PLC subsidiary, and to avoid any possible conflict of interest, Graham Wheeler has tendered his resignation from the S&U board with immediate effect.
Anthony Coombs, S&U chairman said: "I thank Graham for this wise decision and for the service he has given S&U over the past six years, both as Chief Executive of Advantage Motor Finance and then as a non-executive director. His wise counsel and experience have been invaluable."
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