§ 6. Mr. HOGGEasked the President of the Board of Trade (1) whether it was with the consent of the Government that three gentlemen without any practical knowledge were nominated as directors of the British Dyestuffs Corporation, Limited;
(2) whether the services of the two managing directors of the British Dye-stuffs Corporation, Limited, have been dispensed with; whether this was done with the knowledge and consent of His Majesty's Government; and whether the board of the company, as at present composed, is without practical knowledge of the industry?
§ Sir P. LLOYD-GREAMEThe appointment of directors (other than Government directors) of the British Dyestuffs Corporation, Limited, does not require the consent of the Government, which has not a controlling interest in the Corporation. I have no doubt, however, that the three new appointments to which the hon. Member refers will greatly strengthen the Board, and I would point out that one of the new directors has had much practical experience as managing director of an important chemical works supplying pro ducts to the textile trades, whilst another is actively engaged in the dyeing of textiles. As regards the termination of the appointment of the two managing directors, my right hon. Friend the Chancellor of the Exchequer was aware of the intention of the board of directors. The consent of His Majesty's Government was not required. The two gentlemen in question remain on the board of the corporation. I should add that the various changes mentioned were approved by the 743 shareholders at the recent annual meeting, and that the Government proxies were not used.