Recent PLUS recruit Fluid Leader says founder Paul Davidson ‘has been removed as a non-executive director’.

When the company floated on PLUS earlier this year with technology pioneered by Davidson (known as ‘the Plumber’) to connect sections of oil and other large pipes, he proclaimed, ‘I am planning to build Fluid Leader into the biggest conglomerate in Britain’.

Davidson, known as a successful City controversialist, who recently dabbled with taking control of Real Mallorca football club, had raised £5 million for a 12 per cent stake in the company from Sheikh Faisal Al Qassimi, a member of the ruling family of Sharjah in the United Arab Emirates.

Fluid Leader duly floated on PLUS-quoted, advised by Atlantic Law, and Sheikh Faisal injected £11million of land into the company. Now, a source close to the situation says ‘it was felt that Paul would have a better role as inventor and consultant and did not sit comfortably in a public company role’.

Fluid Leader has also appointed director Philippe Chappelle, former president of German hydraulics and valves group Bosch Rexroth, as its new chief executive officer.   

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