If that were so then I would have expected to see " Owing to his...

If that were so then I would have expected to see " Owing to his other business interests, or due to his recent executive commitments". The reason given was "for personal reasons", which is IMO either health related or plain old falling out! There is no conflict of interest between the operations of ISS and IFS, so you must be saying that it was a condition that he have no other directorships? He is also a director of CCV!