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David Ross back as chairman at Cosalt
David Ross, the co-founder of mobile phone retailer Carphone Warehouse, has returned as chairman of marine safety group Cosalt 12 months after he stepped down from the post.
The firm said on Monday that Ross, who owns about 15 percent of Cosalt's equity, would succeed David Hobdey.
Hobdey has been acting interim chairman since December when Ross stepped down from the chairman's post after an unintentional technical breach of shareholder disclosure rules but remained a non-executive director.
In December Ross also stepped down as chairman of bus and train operator National Express, as a director of self-storage company Big Yellow Group and from the committee organising the 2012 London Olympic Games.
Cosalt, which inspects and maintains life-saving equipment such as lifeboats on oil and gas rigs, also said it had appointed Calum Melville as an executive director and Simon Gilbert as a non-executive director.
The firm added that it continues to trade in line with management expectations.
Shares in Cosalt, which have lost 78 percent of their value over the last year, were up 2.9 percent at 8.9 pence at 0806 GMT, valuing the business at about 36 million.
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Weather for Yorkshire
Wednesday 23 May 2012
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