24 September 1998: UK“s Pilkington, the world“s biggest glassmaker, has reported that the non-executive directors John Macomber, 70, and Sir Michael Quinlan, 67, will be replaced by Jim Leng, head o…
24 September 1998: UK“s Pilkington, the world“s biggest glassmaker, has reported that the non-executive directors John Macomber, 70, and Sir Michael Quinlan, 67, will be replaced by Jim Leng, head of Laporte, Oliver Stocken, finance director of Barclays, and Bill Harrison, head of corporate advisory at Deutsche Bank, as the St. Helens-based company undergoes a major corporate restructuring. According to a recent press report, the move was expected to please the group“s leading investors, at a time when the shares have fallen sharply, due to fears over its exposure to overseas markets. The company is undergoing reorganisation to counter tough price competition in the float glass sector, which plunged Pilkington into a UK 100 million pre-tax loss last year.