Olaf Swantee14 Jun 2018 12:01
Yes, he's got a wealth of experience and turned around EE but I am going to put forward a name that will revive this flagging company.......... Archie Norman !
Okay, calm down before you all jump up and start ****ging me off, let me explain.
Years ago, I used to work at a very established company called Warburgs in the city and I met Mr. Norman a few times when conducting both a rights issue and placing of shares in Asda back in the late nineties. After a few conversations with him, I thought this guy is a very determined and string minded character and I thought I would back him by buying shares in the company as well.
At the time Asda were on its knees, almost bankrupt and its transformation after Mr. Norman's appointment, well its was remarkable to say the least and its was eventually bought out by Wal-mart at a significant premium. Ching ching !
Okay, lucky punt you say !
Well, with no background in television or media, Archie Norman was appointed Chairman of ITV in 2009, the share price then bottomed around 18p. With the appointment of Adam Crozier as his sidekick he grew the company from such a low valuation and highly indebted company to one that was cash rich with no debt and a market cap of approx. £11billion. Ching ching again !
He was recently appointed Chairman of Marks & Spencer back in September but I think he knows as well as we all do, shoppers don't have a great deal of money nowadays and the high street is well and truly doomed, nothing to do with the internet. Most consumers now just work to pay bills and there is nothing left in the paypacket afterwards.
Archie Norman is looking for one last hurrah and he's the ideal candidate to turn this company around and make it proud to be British, lets face it most of UK PLC has been sold off and there isn't much of the family silver left !