Southwest firm Morgan Cole has postponed its elections for chairman until the end of the next financial year amid expectations that current chairman John Cole will not stand again.
The delay means the vote, which was due to take place this year, will be postponed until 31 March, 2003.
Sources close to Morgan Cole, which has been hit by a wave of defections during the past two years, have told Legal Week that Cole is unlikely to stand as he would find it difficult to muster enough support to get re-elected.
