M&S boss in new pressure to cut salary February 28, 2010 MARKS & Spencer’s (M&S’s) joint chief executive and chairman Sir Stuart Rose has seen renewed investor demands to reduce his pay in the latest shareholder salvo against executive pay deals. Rose, who assumed the joint title of chairman and chief executive last year, could see his £1.13m salary reduced by investors after an ongoing and [...]
Why the London Stock Exchange’s French boss is taking on the world February 14, 2010 L ONDON’s financial services community has a new champion: Xavier Rolet, the 50-year old French banker who took over as the London Stock Exchange’s CEO last year. Unlike many British commentators, who seem desperate to talk down one the UK’s most important industries, Rolet realises how important a prosperous City is to the UK and [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 8, 2010 FINANCE TIMES DE SHAW MOBILISES TEAM TO BUY DISTRESSED ASSETS OF FUND RIVALS DE Shaw, the third largest hedge fund, has established an in-house team to look at buying portfolios of distressed assets and is targeting the holdings of rival hedge funds. The DE Shaw Portfolio Acquisitions Unit, launched last year, aims to capitalise on [...]
Rose: We had to pay Bolland his £15m golden handshake February 7, 2010 THE outgoing head of Marks & Spencer has defended the £15m “golden hello” offered to his successor Marc Bolland. Sir Stuart Rose, who will be replaced by Bolland in May, said M&S needed to pay the sum in order to remain competitive. He told a Sunday newspaper: “At the end of the day, if you’re [...]
Lucky Leo can star at Donny February 4, 2010 LAST weekend’s meeting at Doncaster was frozen off, so let’s hope the weather doesn’t disrupt tomorrow’s action. KALAHARI KING, runner-up in last season’s Arkle Chase, carries top weight in the feature contest, the Blue Square Handicap Chase. Ferdy Murphy’s stable star heads the field of 15 in the £70,000 contest and will take some stopping [...]
CITY MOVES | WHO’S SWITCHING JOBS February 4, 2010 Betfair Ian Dyson, finance director of retail giant Marks and Spencer, has taken up a new non-executive directorship at the betting firm. Dyson, who joins the Betfair board immediately, joined M&S in June 2005 as group finance director, becoming group finance and operations director in 2008. He was also formerly finance director at the Rank [...]
Bolland given £15m mission to save M&S February 1, 2010 THE OUTGOING boss of supermarket chain Morrisons is set for a “golden hello” worth up to £15m after accepting one of the toughest missions on the high street – to turn around Marks and Spencer. Dutch Marc Bolland will receive the package in pay, bonuses and compensation for giving up his previous job when he [...]
Home baking boosts Real Good Food’s annual sales January 26, 2010 REAL Good Food yesterday announced a 15 per cent sales increase over the year, with strong results in the sectors of sugar retail, baking ingredients and its bakery division, Hayden’s. Hayden’s reported a rise in sales to all three of its major customers; Marks & Spencer, Waitrose and Costa Coffee. Meanwhile, food service sales, which [...]
Matalan price gets a boost January 13, 2010 FASHION and homewares retailer Matalan has boosted its £1.5bn auction by revealing further strong growth over the Christmas period. The group revealed that like-for-like sales rose 13.7 per cent in the five weeks to 2 January. The upbeat trading statement came despite tough comparatives with positive trading figures seen a year earlier. Five private equity [...]
CITY HEAVYWEIGHTS GET THE URGE TO SLOG IT OUT IN THE BOXING RING January 13, 2010 THE High Court case rumbling on and on between BGC Partners and Tullett Prebon might not have exactly brought the City’s main money broking camps closer together, but at least it’s helped forge some more playful liaisons between those on the same side. Tullett’s boss, City veteran Terry Smith, is well known for his prowess [...]