‘Poor governance’ at Celtic called out by key figure in Fergus McCann takeover
Many of you will need no introduction to David Low who played a key part in the Fergus McCann takeover of Celtic Football Club…
David was the man who drew up the share-buying strategy that allowed Fergus to take control of the club back in 1994, and now he’s asked “who’s running the show?” as he questioned out of date information on the club website.
He posted on X: “It looks like @CelticFC AIM Rule 26 pages are not being kept up to date.
“It also appears that the Nomination and Remuneration committees are inquorate following Lawwell and Allison’s resignations. @celticCSL @CG_Driven“.
Low was highlighting “poor governance standards” as he questioned the numbers on club committees after Peter Lawwell and Tom Allison’s resigned.
An “inquorate” committee would be one with fewer than the necessary numbers to carry out its functions. Updates to committees should be kept up to date on the club website, under AIM Rule 26, which is the London Stock Exchange market for smaller companies.
He added: “65k of people have viewed this inc Celtic. Good to see AIM Rule 26 page corrected the same day.
“Interesting the Nominations Committee consisted only of DD and was inquorate when Mark Keane was appointed on 17 September.
“Poor governance. Who’s running the show here? @celticCSL“.
Celtic Supporters Limited further explained: “What David’s post means, in plain English:
“Celtic’s shares trade on AIM, the London Stock Exchange’s market for smaller companies. AIM Rule 26 says every company on it must keep certain information on its website and keep it current: who the directors are, which board committees exist and who sits on them. It’s how shareholders see who’s running the company.
“Board committees do specific jobs. The Nomination Committee finds and recommends new directors. The Remuneration Committee sets what directors are paid. Each needs a minimum number of members present to make a valid decision. That minimum is called a quorum. Below it, the committee is “inquorate” and can’t properly decide anything.
“The public record. Celtic’s 2025 Annual Report lists three Nomination Committee members: Peter Lawwell (chair), Dermot Desmond and Tom Allison. Lawwell left the board on 31 December 2025. Allison retired on 15 April 2026. On those numbers, one of the three is left.
“On 18 September 2026 Celtic announced two new non-executive directors. So the fair question is this: which committee recommended them, who sat on it, and was it quorate?
“These are the kind of questions shareholders are entitled to ask, and Celtic should be able to answer them simply. If the website is out of date, update it. If the committees have been rebuilt, tell us who’s on them.
“Shareholders deserve to see how decisions are made. That’s all this is about.”
