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Watford directors David Fransen and Stuart Timperley removed from board of club's parent company
However, the duo will remain as directors of the club (Watford Association Football Club Limited).
The club statement read: "The Watford Association Football Club Limited announces that Mr. David Fransen and Professor Stuart Timperley have received notification from Watford FC Limited of their removal as directors, with effect from 19 June 2012, from the Board of Watford Leisure Limited, the immediate holding company of the Club. Both Mr. Fransen and Professor Timperley remain and continue as directors of the Club."
There are three companies currently in use relating to the ownership of the club. Watford Association Football Club Limited is the club itself, Watford Leisure is the holding company which has been in use for many years and Watford FC Limited was set up by Bassini to take over the club.
The Watford Observer understands Fransen and Timperley's removal as directors of Watford Leisure is because the holding company will remain in Bassini's control following the takeover by the Pozzo family, which is still set to take place.