MAIDSTONE'S oldest firm has spilt more blood on the boardroom carpet by firing three bosses in a ruthless move designed to appease angry shareholders.

Whatman International, the paper, filtration and biotechnology company employing hundreds of people at Allington, Springfield Mill and Park Wood, sacked chief executive Tim Coombs and two non-executive directors this week.

Dr Coombs is the second chief executive ousted in the past two years. He was brought in after David Smith quit suddenly following disastrous share performance and condemnation of his acquisition strategy.

Dr Coombs, a marketing expert with an MBA from London Business School, was thought to be the man to turn around the troubled company.

But shareholders had already exercised their power this year by forcing chairman Simon May to step down, and wanted more heads to roll. They claimed that Mr May was not up to the job of spearheading the necessary change. He remains on the board.

Now the same is being said of Dr Coombs, who was fired by new chairman Bob Thian "with immediate effect." Whatman said he was on a one-year contract and would not be paid any compensation. Other victims of the latest cull were Mary Good and Sorrell Mathes. Whatman's share price fell 3p to 76p.

Mr Thian, whose brief is to get the company back on track after poor share performance and weakening Stock Market confidence, has become executive chairman until a successor to Dr Coombs can be found. He has launched a thorough review of Whatman's worldwide operations and is expected to announce further restructuring before the company's preliminary results in March.

The company, founded in 1740 and now a leader in DNA storage techniques, is writing down around £10 miilion to take account of losses by Hemasure, a blood transfusion business in the United States acquired during Dr Smith's time.

Mr Thian said: "My short time with the company has confirmed my original view that Whatman has first-class technologies, products and people and the potential to be a world leader in its field. However, I believe that new leadership with a reshaped board will allow the company to realise its full potential and we hope to be able to make appointments to fill these roles in the near future."

Mr Thian was previously with pharmaceutical companies Glaxo, Abbott Laboratories and Novo Industri. He has also been chief executive of North West Water and the Stationery Office.