Shares in the AIM listed tour operator western & Oriental fell 0.15p to one and a quarter pence after the resignation of broadcaster and journalist Andrew Neil from the board yesterday.
Neil, presenter of BBC’s This Week current affairs programme and former editor of The Sunday Times, resigned “with immediate effect” just seven weeks after he was appointed chairman of the company.
Western & Oriental said the decision was Neil’s although revealed little further information about his departure other than saying it was “not underhand”.
Ian Neale, group managing director, confirmed the rest of the board remained in place and that a strategic review would be concluded by the end of January.
The Times reported Neale as saying Neil was “not totally supportive of some of that was being planned”.
Neil has become something of a travel industry favourite following speaker appearances at the last two Advantage consortium conferences. He is due to speak again this year at the event in Madrid.
However, his knowledge of the travel industry was questioned when he was appointed chairman of Western & Oriental.
The firm reported losses of £8 million in December last year as former chairman David Howell quit.