All change at Campari
Saturday 25 February 1995
A boardroom clear-out at Campari has seen the removal of Christopher Cheng, chairman, Kit Maunsell, chief executive, and David Palmer, managing director. The restructured business will be headed by Pelham Allen, currently deputy chairman of FW Morgan, a South Wales timber importer and distributor, who previously worked at Ewbank Preece, the civil engineering company.
Profits at Campari have fallen from a high of £5.27m in 1991 to losses of £8.6m in 1993 and £4m in the first half of 1994. The company has been hit by problems concerning the design of attractive ski-wear, the management of its complicated currency position and the pressures of a more competitive retail environment.
Shares in the company were suspended two weeks ago pending the result of a fundamental reorganisation. The company refused to comment, but it is believed institutional shareholders have grown exasperated with management inaction and have forced the changes as a price for the restructuring. Mr Cheng, who owns a 20 per cent stake in the company, and Mr Maunsell, his associate, will remain as non-executive directors.
And why are 'southern' ways of speaking spreading north?
life + styleClarissa Baldwin is the brains behind the slogan 'A Dog is for Life not just for Christmas'
Autumn Statement 2013: Work until you’re 70 - George Osborne accused of ‘living in fantasy land’ over pension reforms
Is this the scariest advert ever? Japanese tyre commercial comes with its own disclaimer and health warning
Paul Walker autopsy: Results reveal Fast and Furious star's cause of death
Scientists sequence oldest human DNA from fossilised leg bone found in Spain
UK weather: Two dead and 100,000 homes without power as 100mph storm batters Scotland – now biggest tidal surge in 60 years threatens east coast
- 1 Is this the scariest advert ever? Japanese tyre commercial comes with its own disclaimer and health warning
- 2 A forgotten episode in Russian history leaves links with the Philippines
- 3 Scientists sequence oldest human DNA from fossilised leg bone found in Spain
- 4 ‘Put it in my mouth’: Viewers outraged by apparent reference to oral sex in VIP e-cig advert
- 5 Joanna Lumley’s garden bridge over the Thames gets £30m seal of approval from Government
iJobs Money & Business
£50000 - £65000 per annum + benefits + bonus: Harrington Starr: Market Data SM...
£50000 - £70000 per annum + benefits + bonus: Harrington Starr: Business Analy...
£70000 - £85000 per annum + benefits + bonus: Harrington Starr: Business Analy...
£75000 - £85000 per annum + Bonus and Benefits: Harrington Starr: An award win...