Sir Stuart Rose tipped for Home Retail role

Dapper former Marks & Spencer boss Sir Stuart Rose has been tipped to take pole position at Formula One, replacing Bernie Ecclestone.

Although still possible, much hotter rumours suggest that he could be about to become executive chairman of Home Retail, the struggling owner of the Argos catalogue and Homebase DIY chains, via a sexy private equity deal.

Home Retail’s shares recovered from a flat 86.75p to close 0.8p better at 90.4p amid growing speculation that private equity groups CVC Capital and Bridgepoint Capital are working on a cash bid for the group which would value it at a significant premium to the prevailing market price.

A new senior management team has apparently already been identified.

Rose is an ideal man for the chair as he has been there before.

He joined in 1997 as chief executive and was charged with defending the company against a hostile bid from home shopping giant, Great Universal Stores.

Home Retail has group sales of more than £6bn, and profits are expected to be around £150m for the year.

Source : Geoff Foster – This Is Money
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