Winners and Losers

Click to follow
The Independent Online

The shock news last week, when troubled supermarket Morrisons released a trading statement, was that there was no profit warning. Executive chairman Sir Ken Morrison told nervy investors that no new problems with the Safeway acquisition had been uncovered. He even found time to praise deputy chairman David Jones, despite reports of boardroom spats.

Talk about ingratitude. Jürgen Schrempp joined car maker DaimlerChrysler 44 years ago as an apprentice mechanic, becoming chief executive 10 years ago. But when he announced he would leave the company at the end of the year, the share price increased by 9 per cent. Known as "Rambo" among staff, Mr Schrempp said he would leave "in good heart", but it was reported he was a victim of a boardroom coup.

Antonio Fazio, governor of the Bank of Italy, is the unlikely victim of a surveillance sting by Milan prosecutors. Italian newspapers printed transcripts of his telephone conversation with the chief executive of Banca Popolare Italiana, which was trying to buy another Italian bank. Mr Fazio, supposed to be an independent regulator, urged the chief executive: "Come as you usually do, through the back door."

Goshawk Insurance shareholders last week threatened to take their wrath to the Department of Trade and Industry. They are furious after a resolution on executive pay was passed on a show of hands at its annual general meeting rather than a full poll of votes, which would have defeated the proposals.

Comments