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Hostile takeover of online brochure firm blocked
The managing director of online brochure company OTB-Online Limited – owner of www.onlinetravelbrochures.com – has quit the company after a hostile takeover bid was blocked.
A company statement said Paul Green had resigned from his position and had left the operational running of the company. Green will remain a silent shareholder.
The takeover attempt was blocked by fellow shareholders because it was “deemed not to be in the best interests of the company”. The unwelcome suitor was not identified.
A new structure has already been put in place to ensure the continued smooth running of the business, the statement added.
Matt Hunter assumes the role of business development director, Matt Wells maintains the role of communications director and Andrew Harrison takes the position of accounts and administrator director. An announcement will be made shortly on two key appointments in sales and IT, the company said.
Hunter said: “We do not wish to look backwards, we are looking forwards and our main priority is the business. OTB is still the UK’s largest, free-to-use, online viewable travel brochure site and we will continue to build on this success with the new company structure.
“New business objectives have already been clearly defined and both clients and users will see a marked increase in the site’s usability and the company’s support structure over the coming months. These are very exciting times and we will grab this new opportunity with both hands.”
Report by Phil Davies
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