Heating and air-conditioning installer Worthington Nicholls has announced that it will hold an EGM in early December with the intention of removing certain key members from its board.

Heating and air-conditioning installer Worthington Nicholls has announced that it will hold an EGM in early December with the intention of removing certain key members from its board.

Unhappy shareholders have called for chairman Alastair Stoddart to relinquish his position although he will stay on as a non-executive director. Finance director Christopher Neilson will also stand aside for Thomas Good to step in, while turnaround specialist Simon Beart takes over as chief executive.

The company has suffered a tumultuous time in recent months, following a profit warning and write-offs totalling £6.5 million. The management team said that trading had been hit by poor weather conditions in the summer and a number of contract delays.

Former chief executive Mark Worthington left the company in October after the departure earlier this year of his father Peter, who was chairman and founder.

Stoddart commented that the team ‘will now be able to move forward together and in the best interests of all our stakeholders’.