AA removes chairman for 'gross misconduct'
By Ian Walker
Published: Aug 1, 2017 9:08 a.m. ET
IanWalker
LONDON--Motor breakdown firm AA PLC (AA.LN) said Tuesday it has removed Chairman Bob Mackenzie from the board with immediate effect citing "gross misconduct," and that he will be replaced by John Leach.
The firm, which also provides a range of insurance products, didn't give any further explanation on Mr. Mackenzie's misconduct. It has also Simon Breakwell acting chief executive.
The company said its performance during the first half of fiscal 2018 has been negatively impacted by erratic work load patterns, which was especially true in June and July with significant spikes in demand.
The board now expects its performance for the year ended Jan. 31, 2018 to be broadly in line with last year. For the year ended Jan. 31, 2017 AA made a pretax profit of 100 million pounds ($132.1 million), on revenue of GBP933 million
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749