Carlton picks Asda man, 34, as chief
Thursday 26 November 1998
Steven Cain, who is currently marketing director at Asda, will join Carlton in the new year. He will almost certainly be the youngest chief executive of a FTSE 100 company. He replaces June de Moller, Carlton's managing director, who announced her decision to retire in September.
The appointment surprised analysts who said Mr Cain has no experience of the media industry. But Carlton said the retail sector had groomed some of Britain's best managers and it was keen to capitalise on that expertise. "We wanted someone who is on the way up who can make their mark at Carlton," the company said. Mr Green, Carlton's chairman, said: "Steven was the outstanding candidate in a strong field."
The decision to create the new post of chief executive is being seen as a sign of Carlton beefing up its senior management structure to reflect its heavy investment in digital television through ONdigital, its pay- television joint venture with Granada. Mr Green is not expected to scale back his involvement in the company.
Mr Cain, who is married with three children, has a career record remarkably similar to Archie Norman, Asda's chairman. He graduated from Imperial College before joining Bain & Co the management consultants.
In 1989 he joined Kingfisher, the Woolworths and B&Q retailer, looking after group development and strategy. He left to join Asda in 1992 as marketing controller before joining the board 12 months ago.
Paul Smiddy, of Credit Lyonnais Lain said: "I wouldn't have thought that being marketing director of a domestic food retailer with a single business is the best preparation for running a multi-faceted, international operation."
Dennis Rodman will coach the North Korea basketball team
Jennifer Lawrence attacks mass media again over body image
Jennifer Lawrence: 'It should be illegal to call someone fat on TV'
Ian Watkins: Police probed over earlier allegations as paedophile Lostprophets singer sentenced to 35 years for child sex offences
Iain Duncan Smith leaves Commons food banks debate early
DNA from a 50,000 year old toe shows Neanderthals were highly inbred
Devyani Khobragade: India-US row escalates over arrest of diplomat in New York
- 1 America's 'virgin births'? One in 200 mothers 'became pregnant without having sex'
- 2 Sun will 'flip upside down' within weeks, says Nasa
- 3 Christmas comes early: Justin Bieber is 'retiring from music'
- 4 Iain Duncan Smith leaves Commons food banks debate early
- 5 Children evacuated from swimming pool after prosthetic leg mistaken for paedophile
- < Previous
- Next >
iJobs Money & Business
£500 - £550 per day: Cornwallis Elt : Business Analyst Target Operating Mod...
£500 - £680 per day: Harrington Starr: Murex Business Analyst - 1000 CHF per d...
£60000 - £75000 per annum + Bonus and Benefits: Harrington Starr: A leading au...
£25000 - £32000 per annum: Harrington Starr: Junior Business Analyst - Banking...