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News and Commentary On Newcastle United Football Club By Ed Harrison, A Proud Exiled Geordie And Lifelong Fan

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Chairman Shepherd Stays – Two New Directors at Newcastle

12:11 pm, Tuesday, June 26th, 2007 by Ed Harrison · 10 Comments

As expected four Directors have resigned from the club and Mike Ashley has appointed two new Directors to the Newcastle United Board.

Freddy Shepherd will remain as Chairman of the club.

freddy-shepherd.jpg

Freddy Shepherd – Remains Chairman

Deputy chairman Douglas Hall, Bruce Shepherd, Allison Antonopoulos and Tim Revill have all resigned, while Chris Mort and Steve Hayward have been appointed in their place. Mort and Hayward are two of Mike Ashley’s people.

Current chairman Freddy Shepherd will remain in place – as indicated by a statement released to the Stock Exchange by the club this afternoon – which read as follows:

“Following the recommended cash offer by St James Holdings Limited being declared unconditional in all respects on 15 June 2007, Newcastle United Plc announces the resignation of Bruce Shepherd, Allison Antonopoulos, Tim Revill and Douglas Hall from the board of directors and the appointment of Chris Mort and Steve Hayward to the board of directors; all such changes to have immediate effect.

“[Chairman] Freddy Shepherd remains in his current role.”

So Freddy will remain in place to offer stability at the club and owner Mike Ashley – as expected – has moved in two of his own people. The above statement has also just been posted on the official Newcastle United web site.
Hopefully this will now offer some Boardroom stability at the club and Sam Allardyce can be kept up to date – told what Ashley’s ambitions are for next season – and offered all the support he needs to bring in new players.
Now we would expect some statement from Ashley on his ambitions for the club and some communication to the supporters of the club.

Comments welcome.



Tags: Newcastle News



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10 responses so far ↓

  • 1 Darren // Jun 26, 2007 at 12:35 PM

    It has also been reported that he has hit the magical 90% barrier in terms of share ownership, thus enabling him to purchase the club outright and delist from the stock exchange.

    I’m with you on this one, surely now is the time for him to come out and share his visions for the club rather than have us try to second guess them.

  • 2 Cicero // Jun 26, 2007 at 12:52 PM

    Chris Mort is a businessman with a pedigree not like the failures who have just resigned.

    Freshfields Bruckhaus Deringer is a leading international law firm.

    Chris Mort is co-head of the leisure sector group, overseeing our relationship with companies in the gaming, holidays, hotels, pubs and sports sectors.

    Chris’s recent work has included:

    · advising Mike Ashley on his acquisition of Newcastle United PLC;
    · advising CVC on its acquisition of Formula One Administration, the motor racing commercial rights company led by Bernie Ecclestone;
    · advising on various London listings (such as BSkyB, Halfords, Sports Direct and Umbro);
    · advising EMI on its issues of convertible bonds and high yield notes to raise more than US$500m, and its recent merger discussions;
    · advising major investment banks, such as Citigroup, Goldman Sachs and Merrill Lynch, on underwriting share issues and mergers & acquisitions;
    · advising AMP on the demerger and London listing of its northern hemisphere operations, in the form of Henderson PLC;
    · advising on the privatisation, by public share offer, of Telkom, the South African public telecommunications operator which raised Rand 4.3bn for the South African government; and
    · advising on the non-US aspects of an offer of shares worth US$22bn by Hewlett-Packard, involving 147 jurisdictions.

    Not sure who Steve Hayward is but you can be sure he’s of equal ability.

  • 3 Newcastle Major News Stories - June 26th - 2007 | Newcastle United Blog // Jun 26, 2007 at 1:21 PM

    [...] ← Alan Smith Can Still End Up At Newcastle Chairman Shepherd Stays – Two New Directors at Newcastle [...]

  • 4 Ross G // Jun 26, 2007 at 1:36 PM

    things are shaping up behind the scenes, but may i jus say his have you looked on SKYSPORTS!!!!! Olympiakos have offered 2.4M for Collicini AHHHHHHHHHHHHHHHHH!!! Apparently Depor are looking at it now. If they sign him for that i will die, he is worth at least 6m. PLEASE PUT A BID IN PLEASE

  • 5 Ian // Jun 26, 2007 at 3:11 PM

    Oh sorry – just reread your comment – I thought you said “not unlike” rather than “not like” sorry.

    You are right – he seems to have a real pedigree – not like our previous bunch. However, he’s a lawyer not a businessman.

    Ian

  • 6 david veitch // Jun 26, 2007 at 3:21 PM

    Competent people running our club! This is all very strange, Get your passports dusted , were heading for dizzy heights.

  • 7 Cicero // Jun 26, 2007 at 4:10 PM

    Yes he works for a law firm but I think from his background he’s a bit more than just a lawyer. If he’d been in the negotiations and looked at the Owen and Martins get-out clauses would they be in there?

    Anyway, the new board of directors are there to review the set-up at NUFC and I would expect Steve Hayward to be some kind of accountant. Hopefully at some point Ashley will appoint a Chief Executive to actually run the business on a day-to-day basis; someone like Peter Kenyon at Chelski or David Gill at Man U. and we can say goodbye to FFS.

  • 8 Cicero // Jun 26, 2007 at 4:15 PM

    The following has just bee released by Sky Sports

    Mort, a partner at international law firm Freshfields Bruckhaus Deringer, will lead a strategic review of the club and will take leave from Freshfields, where he co-heads the firm’s leisure sector group.

    He advised Ashley on his bid to take over at St James’ Park.
    “I am delighted to take on this role. Newcastle United is a fantastic football club with a wonderful set of supporters,” Mort said. “My first task is to lead a review of all aspects of the club and I look forward to starting that work immediately.”

    Hayward has experience in the sport and leisure fields, including spells with Universal/Paramount, Ashley’s Sports Direct International and Coca-Cola, where he managed the soft drinks giant’s UK sponsorship programme, which saw him work with all the major participants in English football.

  • 9 nightfall // Jun 26, 2007 at 7:04 PM

    Ross G – i agree…we must get him!!!

  • 10 George Davison // Jun 27, 2007 at 10:13 AM

    Sounds to me like some people are echoing comments like when John Hall arrived. “He has done this he has done that. Wow look what he did with the Metro Centre.” Do some of these comments ring true in comparrison to what we read about MA and his team. My only hope is that MA can actually go all the way. Not as JH did and passed on to his son. I also find it amasing how suddenly some people are experts in the field of business and commerce and know all about MA and his workers. Let us not get carried away at present. Let us see if they produce the goods and then comment on their usefulness and expertise at running a football club. Afterall, football is different to business and with a private company we the supporters have not got a say. We can not sack the board. We can not ask MA to resign. They will take our money but rest assured they are not thinking about us. They want to make money any which way and they know we will pay at the turnstiles because we live a dream that one day NUFC will be great again. I hope we are great again, but please do not get carried away in the current hysteria. Let SA do his job and lets see if MA comes up with the goods. Lets give them say 12 months and then i think we will have earned the right to say wether they are good or not.




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