July 11, 2003 — (WEB HOST INDUSTRY REVIEW) — According to several UK-based media reports, Alex Stanford, founder and largest shareholder of Redbus Interhouse (interhouse.redbus.com), narrowly failed on Thursday in his attempt to overturn the company?s board of directors this week.
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A resolution put forward by Stanford at Thursday?s extraordinary general meeting called for the dissolution of the current board and its replacement by Stanford and a number of his associates. According to reports, the resolution was narrowly defeated by those in support of the current board by a margin of 67 million to 61 million votes.
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The proceedings then degenerated into controversy as Stanford unsuccessfully proposed a vote of no confidence in the meeting?s chairman, Paul Dumond. Stanford was then seen engaging in a heated exchange with Michael Tobin, the company?s chief executive, outside the meeting room.
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The struggle for control of the company pits Stanford against supporters of John Porter, former Redbus CEO, who backs the current Redbus Interhouse board. Both head camps that speak for roughly the same amount of shares in the company.
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According to reports, Stanford has repeatedly criticized the poor management of the company and claims this as the motivation behind his actions.
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Redbus Interhouse offers neutral colocation facilities to enterprise clients across Europe. It has data centers in London, Paris, Milan, Frankfurt and Amsterdam.
