Sign in Subscribe
Chairpersons

Business Leaders and Companies in the Spotlight

Strategic Insights

— 2 min read

Sir Christopher Gent, chairman of GlaxoSmithKline, has identified up to four internal candidates to succeed J.P. Garnier, the company's chief executive, who is set to retire in October 2007. Meanwhile, Merlin Biosciences, a biotech venture capital company, is under investigation by the Serious Fraud Office over an investment made by one of its funds. Additionally, Bloomsbury Publishing, the publisher of the Harry Potter books, has been named by the National Association of Pension Funds as one of five listed companies that deliberately suppressed the results of shareholder votes.

Key Takeaways:

  • GlaxoSmithKline is preparing for a leadership change, with Sir Christopher Gent identifying up to four internal candidates to succeed J.P. Garnier.
  • Merlin Biosciences is under investigation by the Serious Fraud Office over an investment made by one of its funds.
  • Bloomsbury Publishing has been accused by the National Association of Pension Funds of deliberately suppressing the results of shareholder votes.
  • Nanjing Automotive has approached City institutions for up to Pounds 40 million to resume manufacturing in the UK.
  • David James, the corporate troubleshooter, has offered to partner with Nanjing Automotive and lined up an investor to inject Pounds 20 million-Pounds 40 million.
  • Compass Group is expected to announce plans to sell its travel concessions business, including its Moto motorway service stations, for Pounds 1 billion.
  • O2 has raised its sales forecasts for the year after achieving record customer levels.
  • Ken Livingstone, the Mayor of London, plans to refurbish Oxford Street to halt the defection of consumers to suburban shopping centres.
  • DoCoMo, the Japanese phone titan, is contemplating buying a UK operator such as O2.
  • Mike Bailey, the chief executive of Compass Group, has announced his intention to step down next year.
  • Roman Abramovich, the Russian oligarch, has sold the bulk of Sibneft, his oil company, to Gazprom, increasing his fortune by Pounds 5.1 billion.
  • Investment in Britain nearly quadrupled last year to Pounds 78 billion.
  • Actuaries have reported an improvement of more than 30 per cent in life expectancy in eight years.

Statistics:

  • Pounds 78 billion: the amount of investment in Britain last year, according to United Nations figures.
  • Pounds 5.1 billion: Roman Abramovich's increase in fortune after selling Sibneft.
  • 38 years: the age of Roman Abramovich at the time of the sale.
  • 4: the number of years Richard Thomason, chief executive of Jarvis Hotels, has spent at the company.
  • 30%: the improvement in life expectancy in eight years, according to actuaries.

Sources:

  • "Merlin Biosciences is subject of Serious Fraud Office inquiry" - The Times, 2005
  • "Nanjing Automotive approaches City institutions for up to Pounds 40 million" - The Times, 2005
  • "Bloomsbury Publishing named by National Association of Pension Funds" - The Times, 2005
  • "Investment in Britain nearly quadrupled last year" - The Times, 2005
  • "Actuaries report improvement in life expectancy" - The Times, 2005

Read more