Chairman of embattled energy company steps down

Furmanite Corp. (NYSE: FRM), a Houston-based provider of industrial plant and refinery services and parts, announced that Chairman Sangwoo “Bill” Ahn will retire amid claims of poor management and cronyism by a Houston investor.

Moreover, the company has postponed its annual meeting, which was supposed to take place April 24, to May 6, a move Houston-based Mustang Capital Management LLC says is a delay tactic.

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