The Business On: Sir Stuart Rose, Chairman, Mobile Money Network
Tuesday 29 March 2011
He looks strangely familiar
Yes, you may remember Sir Stuart from his seven-year stint at the helm of Marks & Spencer, a post he relinquished in January.
So this is his new gig?
Well, one of them anyway. Mobile Money Network is a joint venture between the electronic payments specialist Monetise, the US retailer Best Buy, and the British company Carphone Warehouse. It's in talks with a string of leading retailers (most of whom, presumably, Sir Stuart knows well).
How did they get his services?
Well, he likes the business, of course, but friendship played a part too. Carphone Warehouse boss Charles Dunstone, one of the leading figures behind Mobile Money Network, is a long-time friend. Sir Stuart was an usher at his wedding a couple of years ago (the best man that day, advertising executive Johnny Hornby, is also a non-executive director of the new business).
But this isn't going to be a full-time job?
No – Sir Stuart was executive chairman of M&S, but will be only a non-executive here. And he does have other fish to fry. It emerged at the weekend that he's taken a stake in The Hut, the group that runs internet operations on behalf of several retailers, and also owns brands such as Zavvi these days. And he's already signed up as a non-executive director at Woolworth's, the South African retailer, and as an adviser to private equity firm Bridgepoint.
Any other irons in the fire?
There's speculation Sir Stuart might become the chief executive of Formula One. And for a man known for his quick wit and easy-going charm, the media is an obvious option. There has been some talk of him fronting a business-related television show.
Does he still enjoy a party?
So it would seem. A famous regular at Annabel's nightclub during his tenure at M&S, Sir Stuart enjoyed London Fashion Week earlier this month. He was spotted in the front row at a number of shows, as well as at the after-parties.
- 2 Italian police 'reveal' what Jesus looked like as a young boy
- 3 General Election 2015: 14-year-old boy asks Nick Clegg – 'can you kill Katie Hopkins?'
Italian police 'reveal' what Jesus looked like as a young boy
Who should I vote for? The Independent quiz matches best political party for undecided voters ahead of the general election
Met Gala 2015: Beyoncé manages to out-skimp Rihanna, Miley and Kim Kardashian combined with near-naked ensemble
Syria's 'circle of hell': Aleppo residents describe children without heads, streets filled with blood and injuries never before witnessed by surgeons
General Election 2015: Photographic history of Bullingdon Club tracked down - including new picture of David Cameron in his finery
In defence of liberal democracy
Over 50,000 families shipped out of London boroughs in the past three years due to welfare cuts and soaring rents
EU asylum policy is 'a direct threat to our civilisation', says Nigel Farage
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
iJobs Money & Business
£20000 - £25000 per annum + Uncapped commission: SThree: Can you speak German,...
£25000 - £30000 per annum + benefits: Ashdown Group: An exciting opportunity f...
£215 per day: Ashdown Group: Junior Project Manager (website, web application ...
£40-50K: Guru Careers: We are seeking an experienced Software Engineer / Softw...