Sanderson shareholders press for Dianne Thompson's removal as chair

LBV Asset Management, which owns about 14% of Sanderson Design Group, is seeking Dianne Thompson's removal as chair and director. City AM reported support from other shareholders concerned about performance, executive pay and the company's relocation.

Paul Hawkins, an asset manager with a personal Sanderson holding, considers explanations based on economic conditions inadequate. He contrasts the group's performance with rival Colefax. Milkwood Capital's Rhys Summerton also supports LBV's initiative, arguing for closer scrutiny of management decisions.

The group's finances have nevertheless improved. For the year to January 2026, it reported £3.1 million in pretax profit after a £13.9 million loss a year earlier. Underlying licensing revenue increased 36% to £9 million.

Critics contend that licensing income masks weakness elsewhere. LBV also challenges chief executive Lisa Montague's £729,000 remuneration package. Figures cited by City AM put the combined pay of the chief executive and finance chief at 36% of group profit.

The move to Voysey House in west London is another point of contention. Some shareholders regard it as expensive and inappropriate during weak trading. Summerton accepts the logic of returning to a historic building but considers the refurbishment overly costly.

Sanderson says Voysey House has been associated with the company for more than a century and helps realise the commercial potential of its 75,000-piece archive. It says the building brings design teams together and provides a base for international customer relationships and partnerships.

Shareholders also question the pace of expansion in the United States. One City AM source argues that overseas markets and licensing cannot resolve the group's difficulties without greater attention to its core British business.

The board rejects both LBV resolutions. Sanderson argues that immediately removing its chair would cause unnecessary disruption while profitability improves, and says the investor has not explained how its nominee would strengthen the company. A fuller response is promised in a forthcoming shareholder circular.