Alloway resigns as Allied Farmers director
Allied Farmers managing director Rob Alloway has resigned as a director of the company and all its subsidiaries with immediate effect but will remain chief executive until his contract expires on June 30.
Friday, April 29th 2011, 7:25AM
Alloway's departure was announced in September last year. While he had said he wanted to leave by last December, in November the board asked him to remain until June 30.
Allied, which took over Hanover Finance's assets in a deb-for-equity swap at the end of 2009, is currently operating at the mercy of the receivers of its finance company, Allied Nationwide Finance (ANF), having defaulted twice already and likely to do so a third time on July 1.
ANF went into receivership in August last year.
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