April 15, 2016 / 10:41 AM / 4 years ago

Franklin Templeton backs shareholder plan to oust Stock Spirits' CEO

LONDON (Reuters) - Franklin Templeton, a major shareholder in Polish vodka maker Stock Spirits Group, expressed support in principle for shareholder proposals calling for the ouster of Stock Spirits’ chief executive.

“We are deeply concerned about the dramatic loss of market share in the Polish market and the lack of adequate corporate cost discipline within the company,” Templeton Emerging Markets Group said in a statement on Thursday.

“We agree ... that Stock Spirits Group would benefit from a fresh perspective at the board level.”

Templeton controls 4.2 percent of Stock Spirits Group.

Reporting by Martinne Geller. Editing by Jane Merriman

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