Former Liverpool chairman David Moores resigns from board of
directors.
L'pool former chairman, David Moores, has resigned from the
club's board of directors. Moores, whose family became one of the
richest in Britain with the creation of the Littlewoods empire,
took the role of chairman in 1991.
However, with the club in need of increasing investment, he sold
his majority shareholding to current American owners George Gillett
and Tom Hicks two years ago.
The move proved unpopular among many fans after the pair
borrowed £350m to finance the takeover and then plans for a new
stadium were continually delayed.
Moores admitted last year he felt "heartbroken and let down" by
the owners, and his disappearance from the board follows the
decision by chief executive Rick Parry – who helped negotiate the
takeover with Gillett and Hicks – to step down this summer after 12
years at the club.
Despite leaving the board Moores will retain his position as
honorary life president.