IN BRIEF (Page 16)

Carphone founder quits

Carphone Warehouse Group Plc, Europe's largest mobile-phone retailer, said co-founder David Ross resigned as a company director after he backed personal loans with shares without telling the company.

Ross told the company on Dec 7 that he had pledged 136.4 million shares in the company against personal loans between 2006 and 2008, London-based Carphone Warehouse said in a Regulatory News Service statement yesterday. The pledged shares are worth about 127 million pounds based on the closing price on Dec 5.