The departure of Turners Auctions chief executive officer 
Graham Roberts may not be as clear cut as it initially appeared, with the issue going to arbitration today (Friday, March 7).
Chairman Michael Dossor confirmed the arbitration, but would not acknowledge that this indicated Roberts’ employment had been terminated.
DIESELtalk understands Roberts departure may be linked to a dispute over the termination of a member of Turners Finance management team around a month ago, but Dossor denies this.
Last week the company announced Roberts was ‘no longer in its employ’.
“It happened, we are moving on,” Dossor said.
Dossor initially stepped in, before appointing chief operating officer Todd Hunter as the interim Ceo. Hunter will likely be considered for the permanent position.
“We are very pleased with his appointment, and I can tell you so far it has met with a good response from those I have spoken to,” Dossor said.
This week also brought the announcement that the company had lost the contract to sell damaged vehicles on behalf of the IAG group of companies.
The contract, which generates in excess of 15% of Turners Auctions net profit, will finish within the next few months.
In a statement, Turners says this will have a negative impact on the company’s earnings for the second half of the December 2013 year and beyond.
The company says it will give further detail on the impact at its annual general meeting on April 24.
On a positive note, the company says the year has started on a strong note with net profit for the first two months (January & February) more than 11% above the same period in the previous year.
