Crystal Amber takes aim at studio chairman

Pinewood chairman Michael Grade has resisted calls from a major investor to step down from the board of Blighty’s Pinewood Shepperton Studios.

Crystal Amber, which has an 18% stake, singled out Grade and senior independent director Adrian Bern saying that board renewal was “essential to improve the performance of the group,” in a release sent late Monday, the eve of the studio’s annual financial meeting in London.

After the meeting Grade said, “Our latest discussions with our other major shareholders, representing a clear majority, give us confidence that they support the board, its stewardship and strategy.”

Pinewood Shepperton’s profits have halved since the studios were floated on the stock market in 2004.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0