Guinness PLC fired its chairman, Ernest Saunders.
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The British brewing giant which is involved in a stock trading scandal, said two other Guinness directors, who are associates of Saunders, were asked to resign. They are Thomas Ward, an American lawyer, and Arthur Fuerer, chairman of Bank Leu AG of Switzerland. The latest actions, which came during an emergency meeting of Guinness’ remaining directors, followed new allegations that Guinness set up a $300-million fund to illegally support its $3.8-billion acquisition of Distillers Co. Ltd. last April.
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