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Last Updated: Friday, 17 June 2005, 13:36 GMT 14:36 UK
Eurotunnel shareholder reaction
Eurotunnel Jacques Gounon
Chairman Jacques Gounon is facing a challenge to his leadership
Shareholders of Eurotunnel, the Channel Tunnel operator, are gathering in the French town on Coquelles for what is set to be a stormy annual general meeting.

Eurotunnel is in major financial trouble and its chairman, Jacques Gounon, is fighting a fierce battle for the leadership of the business with the company's former chief executive, Jean-Louis Raymond.

BBC News spoke to investors about the way forward for Eurotunnel ahead of the meeting.

David Charlesworth

"I am intending to back the current chairman, Monsieur Gounon. If we change chairman, it will be the fourth chairman since the beginning of last year's annual meeting 14 months ago.

"We should stop the apparent infighting on the board. It is more important that we show creditors they are able to deal with the management of the company."

Dominic Gosset

"I am very disappointed that the team wasn't able to work together.

"We need a more solid team to build a new Eurotunnel. Eurotunnel is in a very bad way and it is urgent that the team works now."

Hugh Wemban-Smith

"I think the French shareholders made a big mistake when they sacked the board a year ago.

"But now we have this situation, they would be best to stay with Monsieur Gounon who is a competent person. If he has the support of shareholders, he has a better chance of succeeding."

Michael Stainer

"Monsieur Gounon is the person who can make things work if indeed they can be made to work at all.

"The debt is the big issue and he is addressing that. I think that the debt holders will respond if there is a proper management in place to manage what is, after all, a very valuable business."


BBC NEWS: VIDEO AND AUDIO
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