Why hiring chief executives externally is better for struggling businesses April 2, 2015 It's an age-old argument: when a leader steps down, do you promote from within or bring in fresh blood? Each brings their own benefits – one has a fresh view on business and new ways of working, while the other already has a deep understanding of a company's strengths and weaknesses. Now we might have [...]
Morrisons hurt by downgrade March 30, 2015 SHARES in Morrisons dropped one per cent yesterday after analysts at Goldman Sachs downgraded the supermarket chain and forecast lower margins. The bank said that despite the retailer being “the most proactive” of the UK grocers in cutting prices and improving service to boost footfall, like-for-likes remained negative, leading them to forecast lower margins in [...]
Supergroup share price surges as Idris Elba takes centre stage March 26, 2015 SUPERGROUP, the maker of Superdry clothing, is roping in potential future Bond Idris Elba to help grow its business. The star of The Wire will collaborate on designing a premium fashion range for Superdry, the retailer revealed among a host of plans, which sent shares surging 6.2 per cent yesterday. In addition to the range [...]
Supergroup’s share price surges as new strategy includes an Idris Elba designed fashion range and 2016 dividend March 26, 2015 British fashion retailer Supergroup, the maker of Superdry clothing, is roping in potential future Bond Idris Elba to help grow its business. The star of Luther and The Wire will collaborate on designing a premium fashion range for Supergroup, the retailer has revealed, among a host of plans which sent shares surging six per cent [...]
Mentoring critical to having more FTSE female board members, say women on boards March 24, 2015 As a government report points to a more than doubling of women on FTSE boards, three women give the lowdown on life in the boardroom, and how more women can get there. Anne Richards Anne Richards had “wandered through life not really worrying about the gender mix of a board”. However, the chief investment officer [...]
Morrisons new chief shelves old exec team March 24, 2015 MORRISONS new chief executive David Potts has wasted little time in overhauling the beleaguered supermarket chain as he turfed out five of its senior managers yesterday. Potts, who only took the top job at the Bradford-based retailer last week, said he plans to simplify and speed up the business by building a “leaner senior management [...]
Five Morrisons execs leave as Potts swings axe March 24, 2015 Five members of Morrisons' management team are on the way out, after new boss David Potts swung his axe. Group customer marketing and digital director Nick Collard, group retail director Martyn Fletcher, group property and strategy director Gordon Mowat, group logistics director Neal Austin and convenience managing director Nigel Robertson are all leaving. "I will [...]
Sainsbury’s says fightback plan paying off March 17, 2015 SAINSBURY’S chief executive Mike Coupe said the supermarket chain was seeing “some signs of recovery” after launching a £150m fightback plan last year, despite underlying sales falling for the fifth quarter in a row. Like-for-like sales, excluding fuel, fell by 1.9 per cent in the 10 weeks to 14 March, its final quarter, with sales [...]
FTSE rises ahead of Osborne’s pre-poll Budget – London Report March 17, 2015 BRITAIN’S top share index edged higher yesterday to extend a recent rebound from last week’s lows, with gains coming in ahead of key policy announcements from the UK and the US. The FTSE 100 rose 0.5 per cent to 6,837.61 points, as shares of natural-resources producers ticked up and utilities pushed higher, led by a [...]
Alliance Trust bosses unnerved after activist hedge fund Elliott Advisors calls for a board shake-up March 16, 2015 A bitter row is erupting between FTSE 100 investment group Alliance Trust and its biggest shareholder, the activist hedge fund Elliott Advisors. Elliott is today pushing to add three new non-executives to the board of Alliance, in a move that will pile the pressure on the firm’s chief executive Katherine Garrett-Cox. “They’re not calling for [...]