Laxey Partners and CLS Holdings have instigated changes to the board of AIM-listed Bulgarian Land Developments.

Finance director John Dodwell and independent non-executive director Ita McArdle have resigned.

Former Deloitte partner Andrew Daw will join the board as finance director, working two days a week, and Laxey director James Green joins the board as a non-exec.

Laxey and CLS together own 44% of Bulgarian Land.

The company said earlier this summer that it would start to break itself up in order to return cash to shareholders.