Top pay mocks the critics: Correction

We inadvertently wrote last week that David Dworkin, former chief executive of Storehouse, was paid a total of pounds 3.2m for just six months at the company. In fact, he was chief executive for six months. He joined Storehouse in 1989.

Bottom Line: Ideas in Storehouse

A DEPARTING boss can take the credit for his company's performance for the year after he leaves, according to Keith Edelman, chief executive of Storehouse since last August. That means the group's 48 per cent rise in pre-exceptional profit and the first dividend increase since it was cut from 8.8p to 5p in 1990, is all down to his predecessor, David Dworkin. Mr Edelman will be judged on where Storehouse goes from here.

Storehouse increases dividend

STOREHOUSE, owner of the BhS and Mothercare chain, has increased its dividend for the first time since it was cut from 8.8p to 5p in 1990, writes Heather Connon.

Bulmer man moves in at Lloyds: Correction

The new finance director at Lloyds Chemists is Michael Ward, not Peter, as stated in last Thursday's edition. The Independent also wishes to apologise for any inferences which may have been drawn from the article as to the reasons for the departure of the former finance director, Mr Steele, to Storehouse.

Iverson leaves Storehouse after a year to return to US

STOREHOUSE, the BhS and Mothercare retail chain, yesterday suffered another board defection when Ann Iverson announced that she was returning to the US after just one year as a director, writes Heather Connon.

Bottom Line: Out of Storehouse

THE AVERAGE tenure of the three executives promoted to joint managing directors by Marks and Spencer last month was 23 years. Ann Iverson has been with Storehouse for just four years and four months, but she was its second-longest-serving executive director. Her departure will cut the average tenure to less than 10 months.

TDG's Australian arm sold for pounds 21m

TRANSPORT Development Group, the haulage and distribution business, has completed its withdrawal from non-European markets with the pounds 21.5m sale of its Australian subsidiaries.

Storehouse appoints two new directors

STOREHOUSE, owner of BhS, yesterday filled the last two gaps on its board with the appointment of Dick Steele from Lloyds Chemists as finance director and WPP's Martin Sorrell as a non-executive.

Appeals: The Ragged School Museum Trust

Children from Dulverton Junior School, south-east London, attending a Victorian lesson at the Ragged School Museum, beside the Regent's Canal, in Bow. The museum trust was set up in 1983 with three aims: to house an East End history museum, to save three canalside warehouses from demolition, now the only mid-Victorian warehouses left on the six miles of canal and towpath in Tower Hamlets, and to provide education, activities and space for temporary exhibitions. The museum opened four years ago and has 12,000 visitors each year. It has started an appeal for pounds 650,000 for a three-part refurbishment programme: to convert further warehouses for display space and other facilities, to make a new kitchen and to do general repairs and redecoration.

Storehouse back in favour after chain disposals: Shares rise as group returns to the black

SHARES in Storehouse, the BhS and Mothercare retail chain, rose 17p to 200p yesterday as the group bounced from a pounds 27.3m loss to an pounds 11.6m pre-tax profit in the 28 weeks to 9 October.

Fake goods found

Police were questioning nine people following the seizure of an estimated pounds 30m worth of counterfeit perfume and designer clothing at warehouses in Rainham and Basildon, Essex.

Rider resigns at Storehouse: Finance director's departure is likely to herald other changes

GRAHAM RIDER yesterday resigned as finance director of Storehouse, the BhS and Mothercare group, in what is likely to be the first of a series of management changes following Keith Edelman's appointment as chief executive.

Two deny pounds 15m cocaine plot

PERUVIAN cocaine with a street value of more than pounds 15m was smuggled into Britain hidden in sacks of roasted coffee beans, an Old Bailey jury was told yesterday.

Dworkin 'let company down'

IAN HAY DAVISON, chairman of Storehouse, the retail group, yesterday vented his anger at David Dworkin, who resigned as chief executive less than nine months after being appointed to the post, writes Heather Connon.

Storehouse contract could give Iverson pounds 420,000 in a takeover

ANN IVERSON, the Storehouse director in charge of the Mothercare chain, could receive more than pounds 420,000 if the group is taken over.
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