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Hyde sells majority shareholding
11 Mar 2008
'After a period of rapid growth as a result of moving production to the Philippines I have decided to sell the majority of the shares and control of the business to Nigel Grogan who has the management and business skills to develop the Hyde brand,' said Hyde.
I believe that Nigel can not only enable the company to continue to expand but that he will also extend the brand into other commercial areas, he added.
Grogan is a law graduate who began his business career with the Mars Corporation before setting up a chain of VW and Audi dealerships which he sold in 2003. He has since been taking on new challenges, including consulting for Hyde.
He is a keen sailor and owns a number of boats, from an OK dinghy to Squibs and Melges, as well as cruising in his Bénéteau 50.
Hyde has retained a stake in the company. He will no longer be a director but is retained as a consultant.
The company will remain based on the Hamble River with offices and a new service facility in Swanwick.
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