Ahead of today’s AGM, Celtic’s second-biggest investor, Lindsell Train Limited, has further decreased its shareholding in the club…
According to an update released through the London Stock Exchange yesterday, the low-profile investment company has cut its stake by a further 0.82 per cent, following a 0.69 per cent reduction last month.
As a result, their voting rights at the club has fallen to 14.88 per cent. The firm also holds the third-largest share in Italian side Juventus, behind the Agnelli family and the cryptocurrency company Tether.
The update was released just before Celtic’s Annual General Meeting, which takes place today. Shareholders are set to cast their votes on 17 separate resolutions during the session.
Most of the resolutions relate to confirming the positions of senior board members including Michael Nicholson, Chris McKay, Dermot Desmond and Peter Lawwell. Particular attention is expected to fall on resolutions 16 and 17, both proposed by The Celtic Trust.
Their proposals call for the club to release a full strategic review alongside a detailed three-to-five-year plan. The Celtic Trust are also bringing forward a motion expressing no confidence in the current Celtic board.
Meanwhile, Celtic Fans Collective released a statement yesterday morning shifting the spotlight onto the CEO which called for him to step down from his position.
It read: “Michael Nicholson’s position as CEO is no longer credible. His tenure has been defined by weak leadership, poor communication and an inability to articulate any meaningful vision for Celtic. At a time when the club needs clarity, confidence and ambition, Nicholson has looked out of his depth. He promised supporters that he wants Celtic to be ‘world class in everything we do’. Under his guidance, the club is mediocre in almost all areas.”
“A Celtic CEO should be visible, authoritative and capable of engaging openly with supporters. Nicholson’s unwillingness to communicate has left the fanbase feeling ignored, detached and devalued. His record on fan issues is appalling.”
“These shortcomings were brutally exposed at the meeting with the Celtic Fans Collective. He struggled to answer basic questions, failed to explain the club’s direction and appeared completely overwhelmed by the demands of the role. His lack of ambition was underlined further when he stated he believed Celtic’s recent European record is satisfactory.”
“Celtic needs a leader who is ambitious, communicative and relentless in pushing the continual improvement of all aspects of the club. Instead, we have a CEO who aims low, accepts mediocrity and is normalising regression at a club that should demand far higher standards than he is delivering.”
Conor Spence
