Storehouse appoints two new directors
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.STOREHOUSE, owner of BhS, yesterday filled the last two gaps on its board with the appointment of Dick Steele from Lloyds Chemists as finance director and WPP's Martin Sorrell as a non-executive.
The appointments were not well- received in the City and Storehouse's shares fell 10p to 239p. Lloyds Chemists grew rapidly by acquisition and there has been concern among investors about its accounting policies.
A Storehouse spokesman admitted that Mr Steele came from a 'controversial stable' but added that he had 'first-class accounting skills, first-class retail experience and considerable corporate experience'.
A chartered accountant, Mr Steele spent three years at Next before moving to Midsummer Leisure as finance director in 1987, joining Lloyds three years later. He will join Storehouse on 1 April.
The appointments mean the group will now have four executive and four non-executive directors on its board.
It has undergone a number of management changes recently. David Dworkin resigned as chief executive a year ago after just seven months in the job. Graham Rider, Mr Steele's predecessor as finance director, had been in the job for less than a year. He resigned last October, shortly after Keith Edelman took over as chief executive.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments