Amidst revelations of a breach of share disclosure rules, David Ross, director of Big Yellow Group self-storage company, resigned his position, according to a Dec. 12 article posted by Reuters.
Reportedly, Ross was first involved with similar allegations at Cosalt Pic, where he served as chairman before stepping down from that post. Cosalt's main emphasis is maintenance of lifesaving equipment used on oil and gas rigs.
"The board's decision has been taken in light of the events concerning Mr. Ross' shareholding in the company and the review by the committee appointed by the board to look into them," reads a statement released on Friday by the company.
Ross, who is considered to be among Britain's 100 wealthiest, also quit his position of deputy chairman of Carphone Warehouse, a British mobile phone retailer that he co-founded. In addition, he resigned as chairman of Ntional Express Group, a transportation company, and as member of the committee responsible for organizing the Olympic Games slated for London in 2012.