Neil Woodford has led a boardroom overhaul at claims handler Helphire, ousting former Tory leader Michael Howard after the company posted a series of disappointing results.
The Daily Telegraph has reported that Invesco Perpetual's Woodford was at the forefront of a group of shareholders who helped push through the changes this week following Helphire's full-year results.
The shareholder unrest has led to the resignation of former Conservative party leader Howard, a non-executive director at the company.
Chairman Richard Rose and fellow non-executive director Andrew Cripps have also resigned, with Autologic Holdings CEO Avril Palmer-Baunack stepping in as chairman.
The trio stepped down yesterday as the accident claims handler posted a pre-tax loss of £34.1m for the year ended 30 June, compared with a £15.6m profit a year previously.
Palmer-Baunack will oversee a strategic review of the business, which rents replacement vehicles to motorists following accidents, over the next three months.
The Telegraph, which said Woodford controls almost 30% of Helphire's shares, added the manager of Invesco's Income and High Income funds had been backed in his move by other shareholders from Schroders and Aviva Investors.
Schroders' Andy Brough held a position in Helphire through his UK Mid 250 fund as of the end of July,
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