Rank names outsider as chief executive

JOHN SHEPHERD

Leisure analysts were yesterday surprised by the announcement that Andrew Teare, head of English China Clays, would succeed Michael Gifford as chief executive of Rank Organisation, the UK's largest leisure group.

"People were expecting a block-busting name. Andrew Teare comes, shall we say, from a different stable," one analyst said.

Mr Teare will assume control at Rank in the spring, soon after Mr Gifford's 60th birthday. It is understood he will be on a similar remuneration package to Mr Gifford, who earned a basic pounds 330,000 last year.

Many analysts had believed that either an internal candidate would win through, or that Rank would choose an established name from the industry. Recent speculation about the likely successor had strongly featured the name of John Conlan of First Leisure.

Mr Gifford said yesterday, however, that people had misunderstood the selection criteria.

"We need an expert in the film industry, someone with a thorough understanding of theme parks, an understanding of the mass entertainments business, and someone with knowledge of office equipment.

"Where do I find this paragon of experience? You don't - you find someone else. There is no point in appointing an expert in bingo, because we already have the expert. It is much easier to understand what the businesses are about, rather than have someone with a narrow view."

Mr Teare, 53, is credited with thoroughly reshaping ECC since he became chief executive of the kaolin and paper chemicals group five years ago. He was previously managing director of Rugby Group for six years until 1990, having spent spells at Turner & Newall and Cement Roadstone.

Investors in ECC took a dim view of his departure, and the company's shares yesterday fell 16p to 334p while Rank's rose 7p to 427p.

Analysts said Mr Gifford's act would be a tough one to follow, given his own thorough reshaping of Rank since he assumed the chief executive's chair in 1983.

Start your day with The Independent, sign up for daily news emails
ebooks
ebooksA special investigation by Andy McSmith
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Neil Pavier: Commercial Analyst

£50,000 - £55,000: Neil Pavier: Are you a professionally qualified commercial ...

Loren Hughes: Financial Accountant

£45,000 - £55,000: Loren Hughes: Are you looking for a new opportunity that wi...

Sheridan Maine: Finance Analyst

Circa £45,000-£50,000 + benefits: Sheridan Maine: Are you a newly qualified ac...

Sheridan Maine: Financial Accountant

£150 - £190 Daily Rate: Sheridan Maine: One of London's leading water supplier...

Day In a Page

No postcode? No vote

Floating voters

How living on a houseboat meant I didn't officially 'exist'
Louis Theroux's affable Englishman routine begins to wear thin

By Reason of Insanity

Louis Theroux's affable Englishman routine begins to wear thin
Power dressing is back – but no shoulderpads!

Power dressing is back

But banish all thoughts of Eighties shoulderpads
Spanish stone-age cave paintings 'under threat' after being re-opened to the public

Spanish stone-age cave paintings in Altamira 'under threat'

Caves were re-opened to the public
'I was the bookies’ favourite to be first to leave the Cabinet'

Vince Cable interview

'I was the bookies’ favourite to be first to leave the Cabinet'
Election 2015: How many of the Government's coalition agreement promises have been kept?

Promises, promises

But how many coalition agreement pledges have been kept?
The Gaza fisherman who built his own reef - and was shot dead there by an Israeli gunboat

The death of a Gaza fisherman

He built his own reef, and was fatally shot there by an Israeli gunboat
Saudi Arabia's airstrikes in Yemen are fuelling the Gulf's fire

Saudi airstrikes are fuelling the Gulf's fire

Arab intervention in Yemen risks entrenching Sunni-Shia divide and handing a victory to Isis, says Patrick Cockburn
Zayn Malik's departure from One Direction shows the perils of fame in the age of social media

The only direction Zayn could go

We wince at the anguish of One Direction's fans, but Malik's departure shows the perils of fame in the age of social media
Young Magician of the Year 2015: Meet the schoolgirl from Newcastle who has her heart set on being the competition's first female winner

Spells like teen spirit

A 16-year-old from Newcastle has set her heart on being the first female to win Young Magician of the Year. Jonathan Owen meets her
Jonathan Anderson: If fashion is a cycle, this young man knows just how to ride it

If fashion is a cycle, this young man knows just how to ride it

British designer Jonathan Anderson is putting his stamp on venerable house Loewe
Number plates scheme could provide a licence to offend in the land of the free

Licence to offend in the land of the free

Cash-strapped states have hit on a way of making money out of drivers that may be in collision with the First Amendment, says Rupert Cornwell
From farm to fork: Meet the Cornish fishermen, vegetable-growers and butchers causing a stir in London's top restaurants

From farm to fork in Cornwall

One man is bringing together Cornwall's most accomplished growers, fishermen and butchers with London's best chefs to put the finest, freshest produce on the plates of some of the country’s best restaurants
Robert Parker interview: The world's top wine critic on tasting 10,000 bottles a year, absurd drinking notes and New World wannabes

Robert Parker interview

The world's top wine critic on tasting 10,000 bottles a year, absurd drinking notes and New World wannabes
Don't believe the stereotype - or should you?

Don't believe the stereotype - or should you?

We exaggerate regional traits and turn them into jokes - and those on the receiving end are in on it too, says DJ Taylor