trending Market Intelligence /marketintelligence/en/news-insights/trending/vpqeqx6ssmgevcgttrlxnw2 content esgSubNav
In This List

Hydroponics shareholders oust chairman, 3 directors

Blog

A Pharmaceutical Company Capitalizes on M&A Activity with Brokerage Research

Blog

2021 Year in Review: Highlighting Key Investment Banking Trends

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Global M&A By the Numbers: Q3 2021


Hydroponics shareholders oust chairman, 3 directors

The Hydroponics Co. Ltd. shareholders voted to remove Chairman Ian Mutton and three other directors from the company's board.

The decision to oust Mutton, Mary Verschuer, Peter Wallace and Hamish Macdonald was due to governance and transparency issues raised by Hydroponics director and former chairman Alan Beasley, Bloomberg Markets reported. Mutton earlier denied the allegations.

Additionally, shareholders voted to include Lou Cattelan and Gary Radcliff on the company's board. Meanwhile, Steven Xu will act as Hydroponics' interim chairman.

The vote follows the resignations of Chief Commercial Officer Debbie Ormsby and CEO David Radford. The company appointed them in November and October 2017, respectively.

Sydney-based Hydroponics manufactures and distributes hydroponics equipment, materials, and nutrients for cannabis cultivation and processing.