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Rover chief resigns

Rover chairman Walter Hasselkus has announced he is to resign, admitting the company under his leadership had "got it wrong".

The news was delivered at a London press conference, confirming a radical restructuring deal with unions that will see 2,500 jobs go from Rover's UK operations to save its Longbridge plant.

He admitted after announcing his resignation that you can't always blame external factors. It has to be admitted we have got it simply wrong in not anticipating the fierceness of competition in the British market.

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