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Activist investor Elliott takes stake in Taylor Wimpey and demands change
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Activist investor Elliott has turned its fire on housebuilder Taylor Wimpey, demanding it find a chief executive from outside the organisation, after boss Pete Redfern resigned earlier this week. The aggressive US hedge fund also disclosed in a letter published on Friday that it was among the top five shareholders in Britain’s third-largest housebuilder, although it did not disclose exactly how much of a stake it holds.
Taylor Wimpey said on Wednesday that Redfern would step down as chief executive and will leave the business once a suitable candidate has been found. Reports have suggested Redfern’s planned exit after 14 years in the role came after Elliott built a stake.
Read more on theguardian.comAbout this in other media
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