This article is from the source 'independent' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.independent.co.uk/news/business/news/i-wont-be-bullied-says-garrettcox-10126768.html

The article has changed 3 times. There is an RSS feed of changes available.

Version 0 Version 1
I won’t be bullied, says Garrett-Cox I won't be bullied, says Garrett-Cox
(about 1 hour later)
Katherine Garrett-Cox, the chief executive of Alliance Trust, is preparing for battle with Elliott Advisors, the hedge fund hoping to shake up the Dundee-based investment firm.Katherine Garrett-Cox, the chief executive of Alliance Trust, is preparing for battle with Elliott Advisors, the hedge fund hoping to shake up the Dundee-based investment firm.
She told the Sunday Times that she would not be “bullied into something just because someone stands up and shouts at us”.She told the Sunday Times that she would not be “bullied into something just because someone stands up and shouts at us”.
Elliott Advisors, which has spent five years building up a 12 per cent stake in Alliance Trust, hopes to appoint three City heavyweights to Alliance’s board, it says, to improve performance and cut costs at one of Britain’s oldest investment companies.Elliott Advisors, which has spent five years building up a 12 per cent stake in Alliance Trust, hopes to appoint three City heavyweights to Alliance’s board, it says, to improve performance and cut costs at one of Britain’s oldest investment companies.
The three are Anthony Brooke, former BZW and Warburg investment banker, Peter Chambers, former chief executive of Legal & General Investment Management and Framlington, and Rory Macnamara, a former corporate financier at Morgan Grenfell and Lehman Brothers.The three are Anthony Brooke, former BZW and Warburg investment banker, Peter Chambers, former chief executive of Legal & General Investment Management and Framlington, and Rory Macnamara, a former corporate financier at Morgan Grenfell and Lehman Brothers.
Ms Garrett-Cox said the appointments would be “one step towards something that our shareholders are very unlikely to want”.Ms Garrett-Cox said the appointments would be “one step towards something that our shareholders are very unlikely to want”.
She added that the three proposed appointments “just can’t be regarded as fully independent and we pride ourselves on having a very robust, thorough and open recruitment process”.She added that the three proposed appointments “just can’t be regarded as fully independent and we pride ourselves on having a very robust, thorough and open recruitment process”.
She is believed to have the support of The Beano publisher DC Thomson, which owns 6 per cent of Alliance.She is believed to have the support of The Beano publisher DC Thomson, which owns 6 per cent of Alliance.