Pembroke: How not to get ahead
Thursday 15 September 1994
Arecord nine of the 100 Footsie companies are searching for a finance director. The Pru, which Michael Lawrence left in the spring to be chief executive of the Stock Exchange, has been searching ever since. Mick Newmarch, the chief executive, is being picky. He says the Pru is a complicated business and he must find the right person. The faces he's talked to so far haven't fitted. Will he find someone by the end of the year? 'Hope so,' he says.
Accountants with management experience should be polishing their CVs. This means a bull market in salaries.
Lonrho's Tiny Rowland and GPA's Tony Ryan both have cause to celebrate: one of their scourges, Roland Rudd of the Financial Times, is leaving to form a public relations business. He decided to take the plunge after an informal approach from Merrill Lynch, the first client for his four-strong team. Mr Rudd is a former president of the Oxford Union and ex-father of the journalists' chapel at the now-defunct Sunday Correspondent, where he was nicknamed Red Roland. He says: 'I'm looking forward to getting more clients. But I don't think I'm going to get a call from Tiny Rowland or Tony Ryan.'
Peter Smith is swapping his post as personal private secretary to Michael Heseltine, President of the Board of Trade, for that of director of corporate affairs for another leading Tory personality, Lord Sterling at P&O. While a mandarin, Mr Smith prepared the Government's white paper on telecommunications in the 1990s. He will have a similar chance to reshape P&O through his involvement in 'development of group policy and strategy'.
As if there were not enough games of musical chairs in the Savoy boardroom. A leading financial newswire service yesterday sent out results from the hotel group with supplementary remarks from the chairman. The chairman's name on the report was not Sir Anthony Tuke, who is leaving at the end of the year, nor Sir Ewen Fergusson, who only the day before accepted the job, but Piers Pottinger, spin-doctor at Lowe Bell. Delusions of grandeur?
As we feared, the rich always get richer in the world of opera. Glyndebourne, which has just found pounds 33m to rebuild itself, beat Broomhill and Mid- Wales - two excellent but financially challenged opera companies - to win the pounds 25,000 Prudential Award last night.
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