The rock’n’roll banker that is set to chair Aviva June 5, 2011 FORMER Australia and New Zealand Banking Group (ANZ) chief executive John McFarlane is being touted as the next chairman of insurance group Aviva, after Sir Richard Broadbent passed over the role last month in favour of a move to Tesco. The appointment of McFarlane, who currently sits on the board of RBS, is believed to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 2, 2011 FINANCIAL TIMES FORMER TESCO CHIEF PUTS MONEY INTO NICOTINE A medical devices group developing non-tobacco nicotine delivery systems has won the backing of Sir Terry Leahy in the latest private investment by the former Tesco chief executive since he retired in March. Sir Terry has put an undisclosed sum behind Kind Consumer, a start-up that [...]
Tesco revamps exec pay after rebellion May 31, 2011 TESCO has moved to head off a repeat of last year’s shareholder revolt by overhauling its executive pay structure. The shake-up, revealed in Tesco’s annual report, sees the scrapping of an incentive scheme which benefited US boss Tim Mason. His £4.2m in pay and bonuses was blasted by US institutional investors at last year’s AGM [...]
Krispy Kreme UK sales on the rise May 31, 2011 Doughnut maker Krispy Kreme saw UK sales of £33.4m over the past 12 months, it said yesterday. Like-for-like figures showed a same-store sales increase of 1.4 per cent. Revenue was up 12.6 per cent. The company said it plans to double its presence in the UK in the next five years. Over the past 12 [...]
Tesco in executive pay shake-up May 31, 2011 Tesco, the world’s third-biggest retailer, is simplifying its executive pay scheme and cutting the base salary of its chief executive as it seeks to end rows with shareholders over how it pays its leaders. The British group, which saw 47 per cent of shareholders either vote against or abstain in a vote over executive pay [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 31, 2011 FINANCIAL TIMES WALL STREET “MISPRICED” LINKEDIN’S IPO A prominent Facebook investor and director accused Wall Street of undervaluing the LinkedIn initial public offering earlier this month, contributing to the doubling of its shares on opening day. Peter Thiel, an early Facebook investor and co-founder of PayPal, said banks did not understand the full potential of [...]
United strike duo are the best Sir Alex has ever had May 26, 2011 Ex-England defender thinks Ferguson’s men have been written off too quickly MANCHESTER United’s chances of winning the final are mixed, because Barcelona are the best team in Europe, and may be about to prove that. However, it’s at Wembley and there are a few things pulling it back towards them like a magnet. Some people [...]
Carnwath gives up senior role after decade May 26, 2011 ALISON Carnwath yesterday announced she was standing down as Man Group’s senior independent director after 10 years in the role. She will be replaced by Patrick O’Sullivan. Carnwath, who is also a director of Barclays and chairman of Land Securities, is staying on the board at Man. Under best practice in corporate governance, directors that [...]
Tesco market share rises as Asda sees dip May 24, 2011 TESCO’S market share rose for the first time since November last year, according to Kantar Worldpanel market share data. For the 12 weeks to 15 May Tesco’s market share rose to 30.7 per cent, from 30.6 per cent. The only other retailer in the top four to increase its share was fourth-placed Morrisons. Its share [...]
FTSE rallys on commodities but Eurozone doubts linger May 24, 2011 BRITAIN’S top shares rose yesterday as rallying commodity stocks helped the index recover some of its poise, but the advance may be short-lived as investors find themselves hemmed in by Eurozone debt concerns. The FTSE 100 closed up 22.52 points or 0.4 per cent at 5,858.41, having hit a two-month closing low on Monday after [...]