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A founding investor of Lastminute.com has quit the board and left the business.

Tom Teichman joined the board in 1998 after leading a consortium backing the business.

According to the Daily Mail, Teichman is not leaving because of the dotcom's performance, share price, or musical differences. He's off to concentrate on his other investments.

Teichman sold £950,000 in shares when the company floated, and his current stake has dropped in value from £5.9 million to £900,000. ®

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