Redbus row rumbles on
Cliff launches Portal of Discontent
There's a row at Redbus Interhouse - and it's getting ugly.
Cliff Stanford - he of Demon Internet fame and the man behind the investment outfit Redbus Group - is unhappy at the way Web hosting company Redbus Interhouse is being run.
Yesterday, Cliff Stanford - who helped set up Redbus Interhouse - wrote to shareholders explaining why he wants to boot out the management.
He claims the business is "being mismanaged" and that the "current management lacks the vision and technical expertise to take this company forward".
"They have adopted a strategy which will at best only succeed in engineering a slow decline," he wrote.
Stanford says he wants shareholders to back him and replace the management team with a new set of people.
Last week he called for an Extraordinary General Meeting (EGM) on the matter.
In a short statement the current board of Redbus Interhouse dismissed the move saying: "The Board believes that the resolutions now proposed by them are wholly inappropriate, and an unnecessary and wasteful distraction for management."
Thoughtfully, Stanford has set up a Web site dedicated to the spat.
If you've got five minutes, it's well worth a read. ®