Business week in review
Sunday 27 January 2013
Here come the girls! The glass ceiling is cracking, rather than shattering, but if the number of women appointed to big jobs on Monday is repeated every week maybe we'll no longer have to comment on their gender.
First up, a shareholder coup at haulier Stobart Group saw Avril Palmer-Baunack take, ho-ho, the wheel as chairman, moving across from boss at logistics company Autologic which Stobart bought last year.
Invesco Perpetual fund managers are said to have led the coup, which came a week after a profit warning. Two non-executive directors, including veteran chairman Rodney Baker-Bates, resigned.
Then, Christine Tacon became the first Groceries Code Adjudicator, giving the former Co-operative Farms' boss the power to stop supermarkets if she thinks they are bullying suppliers. "I have experienced a reasonable number of abuses supplying retailers," Tacon was quoted as saying. So she's unlikely to accept any excuses from the big grocers.
To retain some sex balance, on Tuesday, ex-M&S boss Sir Stuart Rose was named Ocado chairman.
...at a loss
How do you follow Dame Marjorie Scardino? John Fallon, the new boss of Pearson, owner of the Financial Times and Penguin books, seems to have decided the best tactic is to downplay expectations, cutting its profit forecast for the first time in ages.
On Monday, Fallon, who first joined Pearson as communications director in 1997, thus inspiring all ambitious City spinners, said earnings per share would be 84p. That's just 1p less than his illustrious predecessor's forecast in October, but enough to see stock fall 4 per cent after the announcement.
Flybe's head, Jim French, confirmed the airline had hit turbulence on Wednesday when he warned 300 jobs would be axed to save £35m. Flybe nose-dived to a £1.3m loss in the six months to 30 January, down from a £14.3m profit a year ago.
Peter Hickson, bullet-maker Chemring's chairman, announced a full-year pre-tax profit of £18.8m, a 78 per cent slump.
- 2 The awkward moment Sarah Palin raised $25,000 for Hillary Clinton's election campaign
- 3 Ball pool for adults opens in London
- 4 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
- 5 Baldness could soon be treated using stem cells, scientists hope
Woman falls to her death as she celebrates marriage proposal at the edge of Ibiza cliff
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
The awkward moment Sarah Palin raised $25,000 for Hillary Clinton's election campaign
Ball pool for adults opens in London
Amal Clooney gives excellent response to fashion question at European Court of Human Rights
9 reasons Greece's experiment with the radical left is doomed to failure
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
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