UK: Hutchings to leave Tomkins, to shareholder's relief
Wednesday night (11 October) signalled the end of an era on the UK corporate scene. Greg Hutchings has resigned from his post as chairman at the head of the engineering conglomerate, Tomkins . An autocratic leader, who had enjoyed 17 years of large salaries and bonuses, Hutchings was no stranger to corporate criticism. His 1980s heyday swiftly closed on a sour note as his stubborn refusal to take on board corporate governance guidelines, to split his self-appointed role as chairman and CEO until June of this year, and to fully explain his use of company assets shredded shareholders' nerves.Peter Butler, corporate focus director at
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