October 1, 2018 / 11:24 AM / 8 months ago

Athelney Trust MD Boyle steps down after directors reject changes

Oct 1 (Reuters) - Athelney Trust Plc announced on Monday the “sudden resignation” of managing director Robin Boyle with immediate effect after its non-executive directors overruled his request to make major changes to the company’s management.

Emmanuel Pohl, currently chairman, will take over for Boyle as managing director and fund manager while Simon Moore will take over the role of chairman, the investment firm said.

Athelney did not specify what the management changes requested by Boyle were.

Boyle, who managed Athelney Trust for 24 years, will remain a significant shareholder, Athelney said.

The trust was founded in 1994 and became one of the first 10 companies to list on London’s junior market before moving to the main market in 2008.

The firm allocates assets of companies with a focus on those with a market value of less than 300 million pounds ($391 million).

$1 = 0.7669 pounds Reporting by Muvija M in Bengaluru; editing by Jason Neely

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