Brendan O'Neill has stepped down as Director of Imperial Chemical Industries PLC

09-Apr-2003
Dr Brendan O'Neill, has resigned as a Director of ICI and as Chief Executive, with immediate effect. He is succeeded by Dr John McAdam who is currently an Executive Director of the Company and Chairman and Chief Executive of ICI Paints. McAdam takes up his new position with immediate effect. Brendan is leaving two weeks after the news of an apparent 24% deficit in the 1st quarter. Since then the company's shares went down by 40% and people were calling for him to resign from his position. In consultation with the Board, Brendan had agreed that in the best interests of the Company he should step aside, said ICI Chairman Lord Trotman. Brendan's successor announced a Group-wide cost-reduction review as his first task to improve the overall performance of the Group.

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