Sir Terry Leahy’s departure as CEO of Tesco after 14 years is all over the news today, and reminds us how important it is to plan your succession. Sir Terry left without a fuss, having already appointed a successor – meaning no boardroom battles, no leaks, no interregnum, no overpaid headhunters. Do you have an exit plan in place
Financial Times – Leahy checks out
The Guardian – Tesco’s Sir Terry Leahy to step down after 14 years
Daily Telegraph – Sir Terry Leahy: A retailing knight to remember
The Times – Satisfied Tesco orders more of the same
The Treasury is drawing up plans to offer a taper in an effort to head off a revolt by Tory MPs, amid intense business lobbying against the proposed increase in the CGT rate from 18 per cent to closer to income tax levels. But the idea is being condemned by tax experts as “dreadful”.
Financial Times – Tax experts deride capital gains relief
In his regular column, serial entrepreneur Luke Johnson says entrepreneurs are hard to categorise by business as they are born rule-breakers, who do not conform to sets of rules about their traits and what inspires them.”If their magic could be simply identified, it would be a straightforward matter to recognise and back future business champions.”
Financial Times – The trouble with trying to spot a winner
In this Lex column, the FT argues that chief executives that fail to deliver on strategic aims, or who are associated with botched plans, should be given “immediate marching orders”. Lex refers specifically to BA’s Willie Walsh, Prudential’s Tidjane Thiam and BP’s Tony Hayward – the pressure is on.
Financial Times – Lex: Chief executives
The labour market continued to improve in May, research by KPMG shows, but growth in the number of permanent hires fell for the second consecutive months. Are employers worried about hiring full-time employees because they sense a double-dip recession?
City AM – Job hires up but outlook is less rosy
An interesting PR move by BP. The oil firm has bought the top Google and Yahoo! search result for terms like “oil spill” in a bid to recover its public image following the massive oil leak in the Gulf of Mexico. Don’t forget to check out how entrepreneurs can make the most from pay-per-click campaigns here.
Daily Telegraph – BP buys top Google search result for ‘oil spill’
British food retailers and exporters are seeing a massive uplift in demand from the continent, as expats turn to British supermarkets and exporters for their food. The strength of the euro means expats have seen around a 30 per cent drop in their spending power, making it cheaper for them to buy in pounds from British companies and have the goods imported. Any entrepreneurial types looking for a new idea This could be it.