Astroc's chairman Banuelos proposes resignation amid criticism |
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Thu, 28 Jun 2007 06:43
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MADRID (Thomson Financial) - Astroc Mediterraneo SA's chairman Enrique Banuelos has proposed that he resign his position amid accusations of mismanagement, El Pais reported, citing Banuelos at the AGM in Valencia.'I propose I leave my position on the board. I feel I have failed to communicate Astroc's (business) model,' Banuelos said after a shareholder accused him of being directly responsible for the property company's sharp stock market volatility since its IPO in May 2006.Astroc executives have denied knowledge of reasons behind the sharp rises and falls.tfn.europemadrid@thomson.comped/ped/hjpCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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