The former sales director of St Ives web division has been on gardening leave since resigning in March.
He was on a 12-month contract but Wyndeham has negotiated an earlier release with St Ives.
At Wyndehams AGM on Tuesday (22 July), chairman and chief executive Bryan Bedson said first-quarter trading had been slow. But he was confident of a satisfactory outcome for the year because he expected trading to be more second-half biased than in recent years.
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"Another sad day for the industry, only made worse after reading that Ian Shenton is heading up the rescue bid... This guy has had more failed takeovers than Santa has reindeers. Just search on..."
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