Topps Tiles refuses to ditch chairman despite shareholder revolt
Retailer Topps Tiles said today that it stands by its chairman months after a significant number of shareholder votes were cast against his re-election.
The bathroom and kitchen tile retailer said that Darren Shapland is effective in the role. In January only 78 per cent of shareholder votes were cast for him to continue as a director.
Topps Tiles, headquartered in Leicestershire, said it has engaged with the shareholders who had voted against Shapland’s reappointment “to understand and discuss their views with respect to these resolutions”.
The business said it “considers that Darren Shapland, who was appointed to the board in March 2015, continues to discharge his role as chairman effectively and that his contribution is important to the company’s long-term sustainable success.”
Topps Tiles have more than 300 stores nationwide.
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