CTW Writes to National Express on Governance Concerns, FT Says

CTW Investment Group, a union- backed alliance of investment funds, has written to National Express Group Plc (NEX) Chairman John Devaney to say it is concerned about the company’s approach to identifying and nominating new non-executive directors, the Financial Times reported, citing the letter.

While CTW doesn’t support Elliott Advisors in its dispute with National Express, it is “deeply concerned about the ability of the board’s nominating committee to independently and thoughtfully execute its responsibilities in the best interest of the company and its shareholders,” the FT reported.

“There is no lack of procedural coherence as claimed,” National Express said, the FT reported.

To contact the reporter on this story: Blanche Gatt in London at bgatt@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net.

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