Carphone Warehouse is parting with two of its directors. Steve Blan is the European retail director and Ashley Cook is the director of business operations. Both will be leaving as a result of a recent restructure in the top micromanagement.
“We recently carried out a restructure of our senior management team as part of our plans to integrate all our brands to ensure greater efficiency and to avoid duplication of effort.”
So basically, Carphone Warehouse are making some major cost cutting measures in the name of business efficiency. Good news for shareholders if this results in more profit. Although there is always the question, why is the change required now?
Carphone Warehouse has had a good year so far with its share price doubling in 52 weeks. Carphone Warehouse floated on the London stock exchange in 2000 and has been led by Charles W. Dunstone who was CEO since it was founded in 1989 until 2010. He is now Director and also since Talk Talk spun-off from Carphone Warehouse he is Talk Talk’s chairman.
He is also chairman of the Prince’s Trust and a non-executive director of The Daily Mail and General Trust Plc and Independent Media Distribution Plc. In the Sunday Times Rich List 2006 he was listed in 64th place, with an estimated fortune of £830 million (Wikipedia).