Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

G4S Chairman Should Step Down for Bungled ISS Deal, Parvus Says

Nov. 1 (Bloomberg) -- G4S Plc Chairman Alf Duch-Pedersen should step down after investors blocked the security company’s 5.2 billion-pound ($8.3 billion) attempt to buy ISS A/S, according to investor Parvus Asset Management LLP.

“I find that the board has failed. I am surprised he has not taken responsibility for this. There was such an opposition for days, they wanted to go ahead and this mess will cost the company 50 million pounds,” Parvus fund manager Edoardo Mercadante said in a phone interview today.

While Parvus supports Chief Executive Officer Nick Buckles, G4S needs a board and chairman that can identify the “right way to go about” implementing a strategy, Mercadante said.

Link to Company News:{2164860Z LN <Equity> CN <GO>} Link to Company News:{GFS LN <Equity> CN <GO>} Link to Company News:{ISS DC <Equity> CN <GO>}

To contact the reporter on this story: Sabine Pirone in London at spirone@bloomberg.net

To contact the editor responsible for this story: Andrew Noel at anoel@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.