SHARES in the Mean Fiddler Music Group, the concert promotion business run by Irishman Vince Power, crashed by more than 20% yesterday after the company sacked its new chief executive and pulled out of a planned acquisition.

Music promoter Mean Fiddler today shocked shareholders by saying it had ousted its new chief executive and that a newly-appointed chairman would not be joining the board.

VINCE POWER, the Waterford-born businessman, has netted nearly €18 million from the sale of his entire stake in the Mean Fiddler Music group.

The Irish founder of music promoter Mean Fiddler stepped down as chairman today after selling his 35% stake in the company for almost £12m (€17.5m).