Stock-price collapse claims board of Aussie baby food maker

Sydney

A SHAREHOLDER revolt at baby food maker Bellamy's Australia Ltd claimed almost every director in a one-day clean-out following a disastrous foray into China and a stock-price collapse.

Minutes before investors voted on a proposal to oust four independent directors, chairman Rob Woolley resigned without explanation. By the end of the meeting in Melbourne, the interim chairman and another director had been voted out, and another director had quit.

Two nominees from rebel shareholder Black Prince Private Foundation were voted onto the board, a Bellamy's spokesman said. Only director Patria Mann survived th…