Page "Sanctuary Records Group" Paragraph 9

After a £ 110m loss in 2005 pressure from the UK financial and business leaders led to Smallwood becoming merely a general manager of the company, Taylor becoming Chief Executive and former British Airways chief executive Bob Ayling being installed as the new Chairman.

On May 26, 2006, Ayling dismissed Taylor from the company over severe problems and inaccuracies in previous years ' accounting.

Sanctuary Group PLC shares had already become drastically reduced in value after a restructuring designed to deal with the previous year's huge loss.

In late 2006, Smallwood left the company, taking with him Iron Maiden's management interests.