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Sir Victor Blank, the ex-Lloyds chairman, has emerged as a claimant to be authority of Marks & Spencer when Sir Stuart Rose stairs down.
M&Ss headhunter, January Hall of JHA, is sketch up a list of intensity chairmen for the board, headed by the new arch executive, Mark Bolland, to cruise over the subsequent couple of weeks. Sir Stuart has pronounced he will leave by subsequent summer, but is believed to wish to skip progressing if a inheritor can be found.
Sources contend Sir Victor is a clever claimant since of his retailing credentials carrying been the authority of GUS, the hulk mail sequence commercial operation and the designer of the spin-out of the Burberry code underneath Rose Marie Bravo and afterwards Angela Ahrendts. He was piece of the strange group that bought-out Woolworths and a executive of Home Retail.
But he was forced to renounce as Lloyds authority last year following financier snub over the banks preference to rescue HBOS during the monetary crash, a move that was speedy by the afterwards budding minister, Gordon Brown. Sir Victor regularly confirmed that the �12bn deal, that saw dividends at Lloyds wiped out and the share cost crash, would work out for shareholders in the long-term.
One source said: "Sir Victor was sacrificed by UKFI the physique that owns the taxpayers" interest in the bank to damp financier and open opinion. He has as an glorious repute as a authority and a plain sell experience something M&S needs right right away with Sir Stuart going and the new depart of Ian Dyson, the financial director." Sir Victor declined to comment.
Others who are pronounced to want badly the pursuit embody Roger Carr, the ex-Cadbury authority who sole out to Kraft, Niall FitzGerald, the former Unilever authority and Reeds Crispin Davies.
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