UK rental company Speedy Hire鈥檚 shareholders have voted to keep Jan 脜strand as chairman, but also decided to appoint David Shearer to the board as a non-executive director.

David Shearer - currently chairman of Liberty Living Group, chairman of Aberdeen New Dawn Investment Trust, and senior independent director at STV Group 鈥� was proposed as a board member by Speedy majority shareholder Toscafund, which also convened the meeting to decide whether or not to remove Mr 脜strand as chairman.

A total of 63% of Speedy鈥檚 shareholders voted to keep Mr 脜strand as director of the company, while 53% also voted to appoint Mr Shearer to the board. Speedy Hire said his appointment was effective immediately, and it welcomed him to the board.

Toscafund was frustrated by Speedy鈥檚 rejection of a merger plan with HSS Hire, another UK rental company.

The activist shareholder, which owns 19.4% of Speedy鈥檚 shares and an 18.1% stake in HSS Hire, and called for the general meeting of Speedy鈥檚 shareholders and management to consider two resolutions: the first to remove Jan 脜strand as chairman, and the second to appoint David Shearer as a director of the company.