MWB shareholder attacks outgoing chief executive During his tenure at MWB, Mr Balfour-Lynn presided over a massive and unacceptable destruction of shareholder value since late 2009 when we first invested in the company, with the share price falling more than 75pc in the past year alone. As the largest independent shareholder in MWB, Pyrrho now calls on its remaining board, led by chairman Eric Sanderson, to address urgently the structural deficiencies in the group's capital structure. As a long-term, supportive shareholder in MWB, Pyrrho states again that it is willing to assist the company through its current difficulties, under the appropriate conditions. A spokesman said: "Hawkpoint have been appointed to look at options for the best interests of all shareholders." Mr Balfour-Lynn is to step down at MWB later this month. No replacement has been announced. The company is understood to consider its existing management structure was sufficient to run the company in the short term. Although Mr Balfour-Lynn's departure is likely to lead to rumours the company could be taken over shares were down 8.1pc at 8.5p, yesterday.