<h1>Trustees split after rejected board reappointment leads to resignation, rival nominations, and regulator probe over governance</h1> Trustees of a charitable trust that controls a majority stake in a large conglomerate are in a governance dispute after a board reappointment vote was rejected; the split pits the trust chairman and an ally against four trustees who opposed reappointing a septuagenarian nominee director under a new policy requiring annual renewals past age 75. The rejected resolution led to the nominee's resignation and competing nominations for a group board seat. The conflict raises regulatory and systemic concerns because of the conglomerate's economic significance, prompting calls for possible government intervention while the company's regulatory status and listing obligations remain under examination by the banking regulator.