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Ocado and Morrisons deal nets £1.5 million for Sir Stuart Rose Monday, 20th May 2013
Photo credit: Ocado
The former chief executive of Marks & Spencer and now Ocado chairman, Sir Stuart Rose, has reportedly seen his personal wealth rise by GBP 1.5 million following the delivery group’s deal with Morrisons, the Mail on Sunday reports.
The retail veteran owns 1.2 million shares in Ocado, 450,000 of which were acquired as a result of his appointment as chairman on March 11.
Shares in the delivery business rose by a staggering 25 per cent on Friday following the deal with Morrisons. The deal involves Morrisons taking control of its second distribution centre in Dordon, Warwickshire, and Ocado having full use of its computer technology to run its online ordering and delivery service.
With shares increasing in recent weeks in anticipation of the Morrisons tie-up, Rose has reportedly made more money in just two months with Ocado than he did in a whole year as chief executive of Marks & Spencer.
The deal is said to be worth in the region of GBP 170 million, but Waitrose lawyers remain sceptical about the nature of the deal, and will continue to scan paperwork to see whether or not its terms have been breached.
Until now Ocado had been Waitrose’s exclusive grocery partner, but Rose’s company insist they are confident that their business with Morrisons is completely legitimate.
Meanwhile, Morrisons have suggested that a review of the business-rates system is required in a document sent to the Government.
Morrisons believe the current system is ‘damaging confidence’, demanding a freeze in rates and a revision of the way rate rises are calculated. The Department for Business Select Committee will discuss the state of the retail sector in two days.
Retail heavyweights consider buying remainder of Republic Monday, 18th February 2013
Mike Ashley and Sir Stuart Rose are set to battle it out over the remains of collapsed retailer Republic, according to reports.
Ashley, majority owner of Sports Direct, is believed to be keen to add to his ever-growing stable of brands.
Former director Carl Brewins is also understood to be considering making an offer for the business.
Sir Stuart Rose backs online shopping launches Tuesday, 12th February 2013
An e-tailer, backed by retailer Sir Stuart Rose, has joined forces with the owner of Cosmopolitan magazine to launch a series of shopping websites.
Hut Group and Hearst Magazines UK are planning to launch the online shopping websites which will sell products selected specifically by their respective editors.
Men’s Health will be the first website to launch, followed closely by Cosmopolitan and Elle.
Arnaud de Puyfontaine, the chief executive at Hearst Magazines UK, said: "This is part of Hearst Magazines UK's strategy to propel its digital agenda and develop new ways for its magazine brands to connect with audiences."
Ocado names Sir Stuart Rose as new chairman Tuesday, 22nd January 2013
Photo credit: Ocado
Retail veteran Sir Stuart Rose is to become the chairman of Ocado as the online retailer looks to strengthen its hold in the fiercely competitive grocery market.
Sir Stuart, the former chief executive and executive chairman of Marks & Spencer, will replace Michael Grade as Ocado chairman at the company’s Annual General Meeting on 10 May.
"Sir Stuart is joining Ocado as we enter a hugely exciting period, with a near doubling of our capacity. We are looking forward to benefiting from his extensive retail experience and counsel," said Ocado chief executive Tim Steiner.
With a crucial year ahead for Ocado, in which the supermarket is set to open a second distribution centre, Sir Stuart said he had been “very impressed at the impact and progress Ocado has made to date,” adding:
“As retail goes through a fundamental shift into the digital world, I believe Ocado's model and the high standards of customer service it provides will see it emerge as a powerful online player. I am looking forward to being part of the team".
Shares in Ocado rose 7 per cent in early trading on Tuesday.
Former M&S boss Sir Stuart Rose becomes chairman of Blue Inc Monday, 18th June 2012
Sir Stuart Rose, the former boss of department store Marks & Spencer, is to make a return to the British high street as chairman of fashion retailer Blue Inc.
According to the Telegraph, Sir Stuart invested a “modest” amount of his own money into the company which currently operates 191 stores and employs around 2,000 people.
Blue Inc is headed by managing director Steven Cohen and is expected to deliver £80 million sales and £5.5 million profits this year, up 70 per cent and 80 per cent respectively in comparison to previous years.
Sir Stuart Rose condemns Govt work experience saboteurs Monday, 27th February 2012
Sir Stuart Rose, the former chief executive of Marks & Spencer, has defended the Government’s controversial ‘Get Britain Working’ scheme, and accused protestors of trying to “sabotage” retailers’ efforts to offer people work experience.
Speaking on Sky News’ Murnaghan programme on Sunday, Sir Stuart said it was “baffling” that anyone would complain about jobless people being offered roles in the retail industry when youth unemployed remains at a record high.
"We're offering young people the opportunity to really understand what the workplace is about and it appears there is some plan to sabotage this, which I think is nonsense." Sir Stuart told Sky News.
A retail veteran of forty years, Sir Stuart said he began his career stacking shelves and sweeping warehouse floors, adding that these duties were part of working life.
The businessman added that the notion that young people signed up the scheme were being exploited is “nonsense” and “baffling”. He called on retailers to stand up to the saboteurs, and went on to suggest that “one or two of them have shown a little less than backbone.”
Harold Tillman to be longest serving chairman for the British Fashion Council Friday, 20th January 2012
The retail entrepreneur and investor Mr Harold Tillman, is set to extend his chairmanship of the British Fashion Council through 2012.
The position, which has an initial three year commitment, was reaching its expiry but key stakeholders including representatives from the media and BFC patrons and sponsors favoured the extension of Tillman's contract. This will make him the longest serving chairman for the British Fashion Council.
Boris Johnson, Mayor of London said: “As well as maintaining London Fashion Week’s position as one of the most influential international showcases for design, he has been pivotal in the BFC’s efforts to nurture up and coming designers. With fashion playing a key role in our celebrations for 2012, Harold will help ensure London’s status as a big hitter in the global fashion stakes.”
Tillman initially took over as honorary chairman in 2008 from his friend Sir Stuart Rose. He went on to start up new schemes such as the Vogue Designer Fashion Fund and the China British Fashion Alliance, as well as introducing a new structure with Caroline Rush as chief executive -changes that have helped to put the organisation on the map at an international scale.
Sir Stuart Rose to head back to Home Retail? Friday, 2nd December 2011
Former Marks & Spencer boss Sir Stuart Rose could take up a new position as executive chairman of Home Retail, via a new private equity deal.
The Argos and Homebase owner saw its shares recover from a flat 86.75p to close 0.8p better at 90.4p amid growing speculation that private equity groups CVC Capital and Bridgepoint Capital are working on a cash bid for the group.
According to sources close to the matter a new senior management team has already been identified, with Rose at the helm.
It will be the second time round for Rose, who joined the company in 1997 as chief executive.
Sir Stuart Rose to invest in Blue Inc Monday, 14th November 2011
Former Marks & Spencer boss Sir Stuart Rose is to invest in high street clothing retailer Blue Inc.
Rose’s stake in the company is thought to amount to less than the £2 million investment from Blue Inc’s other backers, the Reuben brothers.
Reports suggest that Rose was attracted to the company because of its strong balance sheet. Blue Inc is set to earn £80 million sales and profits of £5.5 million this year, totalling a 70 per cent and 82 per cent increase from the previous year.
Timpson HR schemes are good for the sole Thursday, 2nd June 2011Timpson Group says the key to its success lies in good employee practices, as company sees £135 million turnover.
The retailer, which specialises in key cutting and shoe mending, is setting the standard in cultivating an impressive corporate environment for its staff. Employees at the 145-year-old firm are offered final salary pensions, birthdays off, a hardship fund and free use of the company’s seven holiday homes, and no staff appraisals.
“Our success is really the success of our people who serve our customers,’ he said. ‘In shops where we have the best staff, we make the most money.” John Timpson told press.
As Sir Stuart Rose spoke of organising a review into ethics of fair pay in business, Timpson’s figures show that taking employee welfare seriously can pay back dividends. In the year to October, the group made pre-tax profits of £10.6 million on turnover of £135 million, with both figures up slightly on the previous year.
Mr Timpson said the business had benefitted from a “make do and mend” attitude sweeping the nation, as consumers try to invest in footwear and clothing instead of buying new.