Go-it-alone bosses win fans in the City

Article Abstract:

Some UK companies have heads that combine to jobs of chief executive and chairman, despite recommendations in the Cadbury Code. Many of these are larger companies which have tended to perform better than other large companies where the roles are not combined. Kwik-Fit's Tom Farmer, and British Land's John Ritblat are both examples of heads of successful companies where the roles are combined. Institutional shareholders seem more concerned that the roles should be split if a company has problems than when it is successful.

Management Functions, Corporate directors, Management, Corporate governance

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Political donations: companies with noble motives

Article Abstract:

Companies that provide donations to political parties tend to benefit bosses more than shareholders. Bosses of companies making donations to the ruling Conservative party may receive a knighthood, such as Geoffrey Mulcahy, head of the Kingfisher retail group, who was given the title 'Sir' in 1993. Companies argue that it is in the interests of shareholders for donations to be made, but many large donors also have poor records in terms of share price performance. This is true of Kingfisher, Hambros and P and O.

Finance, Corporations, Corporate finance, Business gifts

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Hot rocks

Article Abstract:

Lafarge is making a bid for Ennemix, a UK aggregates concern. Larfarge holds a stake of almost 50% in Ennemix while RMC holds 4.88% and started buying when Lafarge made its move. Lafarge faces competition from RMC in Austria and France and may also seek to expand in the UK market. Supply of aggregates has been restricted in the UK due to tighter government control of quarrying. Price have risen by 7% in 1996 though demand has also dropped.

Ground or Treated Mineral and Earth Manufacturing, Minerals, ground or treated, Lightweight Aggregates, Mergers, acquisitions and divestments, Investments, Building materials industry, RMC Group PLC, Aggregates (Building materials), Lafarge Coppee S.A., Ennemix

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