Dyson to take over at Punch May 25, 2010 IAN Dyson will take over as Punch Taverns’ chief executive in September. The current finance head of Marks & Spencer (M&S) will take up the challenge of being boss of the UK’s largest pub company. Punch’s chief executive, Giles Thorley, will stay on board “until an orderly handover has been completed”, Punch said in a [...]
M&S records £632m profit May 25, 2010 MARKS & SPENCER has recorded a pre-tax profit of £632m for the year to the end of March. The figure represented a 4.6 per cent rise on the year before. M&S chairman Sir Stuart Rose said the results showed the economy was going in the right direction but that “the recession is not over” for [...]
Race for M&S chair takes on new urgency May 23, 2010 ROGER CARR has ruled himself out of the running for the role of chairman at Marks & Spencer (M&S), while it is believed current chairman Sir Stuart Rose may quit earlier than expected. Carr, who announced his departure from Cadbury in February, is said to be looking abroad for his next corporate post. His withdrawal [...]
Marks and Spencer May 23, 2010 SHAREHOLDERS were understandably miffed when Sir Stuart Rose announced his intention to stay on as executive chairman of Marks & Spencer. They were told that the power grab would ensure an smooth transition when Rose stood down; the succession at Britain’s favourite retailer has been anything but. New chief executive Marc Bolland has arrived, but [...]
Spencer: Cash equities unit was a failure May 20, 2010 ICAP boss Michael Spencer told analysts the inter-dealer broker’s venture into cash equities was its “biggest failure in a decade” yesterday as it reported a 13 per cent drop in profts. Icap closed its fledgling European and Asian stockbroking businesses in March after the loss-making division caused the group to issue a shock profit warning. [...]
Boots in £1bn profit haul May 17, 2010 ALLIANCE Boots yesterday posted an annual profit of more than £1bn – becoming only the third UK retailer to pass that milestone. The group, taken private in 2007 in Europe’s biggest leveraged buyout, also said there was strong growth in own-brand products like No7 cosmetics. Its international wholesale operations also helped in a tough consumer [...]
Hornby set to reveal £1bn Boots profit May 16, 2010 ANDY HORNBY, the man associated with the near-collapse of HBOS, will return to the limelight today as he announces an estimated £1bn profit at the helm of Alliance Boots. Hornby is expected to say the private equity-owned healthcare and beauty products retailer’s trading profit for the year to 31 March grew at a faster pace [...]
Blank on the long list for M&S chair May 16, 2010 HEADHUNTERS searching for a replacement to Sir Stuart Rose at Marks and Spencer have earmarked former Lloyds chairman Sir Victor Blank as a potential candidate to chair the board. JCA Group founder Jan Hall is currently putting together a long list of candidates ready for the board to whittle down. Other names that have been [...]
M&S agrees to £800m pension scheme injection May 12, 2010 RETAILER Marks & Spencer will pump £800m into its final salary pension after a review found the scheme was deeply in the red, it said yesterday. The clothing and food group said the scheme, which has about 123,000 members, had a deficit of £1.3bn at 31 March 2009, although that is likely to have since [...]
M&S finance boss quits for Punch Taverns May 5, 2010 MARKS & Spencer’s incoming chief executive Mark Bolland received an unwanted welcome gift after his first day at the firm – the resignation of its finance director. Ian Dyson yesterday made the shock announcement that he will leave the firm to become chief executive of Punch Taverns, the UK’s biggest pub chain. Dyson was passed [...]