City Moves for 25 March 2015 | Who’s switching jobs March 24, 2015 UK Export Finance The export credit agency has appointed Margaret Eyres as head of direct lending. She was formerly head of export finance UK at Societe Generale. Eyres has 25 years’ experience in trade services, trade finance, and export finance, and has also held roles at Midland Bank International and ABN Amro. Panmure Gordon The [...]
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 [...]
Tesco share price edges down as investors prepare new legal claim over profits mis-statement March 24, 2015 Tesco's share price fell 0.5 per cent this morning as it emerged a group of investors were preparing a legal challenge for compensation over its profits mis-statement. The shareholders have hired a litigation specialist to seek compensation following a fall in the company's share price after management revealed a £250m black hole in its profits, [...]
McDonald’s UK chief exec quits to join Halfords March 23, 2015 MCDONALD’S UK chief executive Jill McDonald is to leave her namesake after taking the top job at Halfords, the bikes-to-car parts retailer. McDonald joined the American fast food chain in 2006 as chief marketing officer before being promoted to UK chief executive and president of its Northern Europe region in 2010. Her departure comes less [...]
Tesco’s Patrick Cescau is latest to quit in boardroom shake-up March 23, 2015 PATRICK Cescau, Tesco’s senior non-executive director who led the search for the supermarket’s new chairman, will become the latest to leave next month in an ongoing shake-up of its board and management team. Cescau, who was at one point seen as a candidate for the chairman role himself, helped recruit Barratt boss John Allan to [...]
Introducing City AM Money March 23, 2015 Welcome to the first ever edition of City A.M. Money. At a time of volatility in the markets, and just a few weeks before the most important pension reforms in a generation are finally enacted, our aim has been to produce a magazine that will help you make the most of the exciting new investment [...]
Patrick Cescau exits Tesco board in clear-out – to be replaced by Richard Cousins March 23, 2015 Patrick Cescau, the senior non-executive Tesco director who led the search for the supermarket's new chairman, is leaving the firm's board, confirming speculation of his departure. Cescau's departure comes after six years with the retailer – it was widely believed he would depart after a new chairman was named to clear the way for a [...]
Halfords names Jill McDonald new chief executive to replace Matt Davies March 23, 2015 Halfords has named Jill McDonald as its new chief executive, filling the saddle left empty by Matt Davies who's departing to lead Tesco's business operations in June. McDonald will leave fast food chain McDonald's where she is UK chief and president of North West Europe. The former marketing chief joined the restaurant business in 2006 [...]
Aldi aims to leave rivals in its wake by adding 60 new stores March 23, 2015 Discount retailer Aldi looks set to outpace the big four this year as it ramps up plans for further expansion by opening 60 new stores in the UK this year. While the chain opened its first UK outlet 25 years ago, it was not until the onset of the financial crisis – and the subsequent [...]
Bid war looms as Silver Lake eyes Clubcard March 23, 2015 SILVER LAKE has entered the race to acquire customer data company Dunnhumby, which made its name through establishing the Tesco Clubcard. The American private equity firm’s announcement follows a statement from WPP’s Martin Sorrell last week saying the PR and advertising company was planning an offer. Dunnhumby, which is currently owned by Tesco, could fetch [...]