Stuart Rose

The Lord Rose of Monewden
Born Stuart Alan Ransom Rose
(1949-03-17) 17 March 1949
Gosport, Hampshire, England
Nationality British
Occupation Businessman
Years active 1972–present
Net worth Increase £34 million (est.) (2011)[1]
Title CEO of Burton Group PLC (1994–?)
CEO of Argos (1997–?)
CEO of Arcadia Group (2000–02)
CEO of M&S (2004–10)
Executive chairman of M&S (2008–11)
non-executive director of
Woolworths Holdings Ltd. (2011–present) chairman Oasis Dental
Political party Conservative
Spouse(s) Jennifer Cook (m. 1973–2010) (divorced)
Partner(s) Kate Reardon (until 2009)
Children 2

Stuart Alan Ransom Rose, Baron Rose of Monewden (born 17 March 1949) is an English businessman, who was the executive chairman of the British retailer Marks & Spencer. Following the appointment of Marc Bolland in May 2010, Rose stepped down as executive chairman at the end of July 2010 and remained as chairman until early 2011 when he was replaced by Robert Swannell. He was knighted in 2008 for his services to the retail industry,[2] and created a Conservative Life Peer on 17 September 2014, taking the title Baron Rose of Monewden, of Monewden in the County of Suffolk.[3][4]

Early life

Rose's grandparents were White Russian émigrés who fled to China after the 1917 revolution. Their son, Rose's father, was unofficially adopted by an English Quaker spinster, who offered to take him to safety in England as war loomed. The original family name was Bryantzeff, which Rose's father, ex-RAF and civil servant, changed.[5] His mother's side is English, Scottish and Greek.[6][7] The young family lived in a caravan in Warwickshire until Rose senior obtained a posting with the Imperial Civil Service in Tanganyika (now Tanzania). Rose went to the Roman Catholic St Joseph's Convent School in Dar es Salaam until he was 11. When he was 13 years old his family returned to England and his parents sent him to Bootham School, an independent Quaker boarding school in York.[6] His first job was as an administration assistant at the BBC.

Career

Rose first joined Marks & Spencer in 1972, as a management trainee. Rose remained with Marks & Spencer until 1989, when he joined the Burton Group as Chief Executive in 1994. The Burton Group demerged, forming the Arcadia and Debenhams businesses.

In 1997, he joined Argos as Chief Executive, where he was charged with defending the company against a takeover bid from the home shopping giant, Great Universal Stores (GUS). Ultimately, GUS did succeed in taking control of Argos, although Rose was widely praised for negotiating an increased price for the retailer.

In a turbulent time in its history, Rose became the Chief Executive of Booker plc, where he oversaw the merger of the company with Iceland to form the Big Food Group.

Rose joined the Arcadia Group in 2000 as Chief Executive and left in 2002 following its acquisition. Rose turned around the fortunes of the Arcadia Group, and sold the group for over £800m, netting himself around £25m as part of the deal.

Rose received an Honorary Doctorate from Heriot-Watt University in 2007.[8]

He was appointed to the position of Chief Executive of Marks & Spencer in May 2004 at the age of 56 and subsequently fought off several takeover bids by Philip Green for the Group. For this role he was paid an annual salary of £1,130,000.[9] Rose appeared to be rejuvenating the Marks & Spencer Group as he did at Arcadia. In January 2007, he was named the "2006 Business Leader of the Year" by the World Leadership Forum for his efforts in restoring the fortunes of Marks & Spencer. He was knighted in the 2008 New Year Honours and was appointed chairman of Business in the Community on 1 January 2008.

On 10 March 2008, it was reported that Rose was to become executive chairman of Marks & Spencer from 1 June 2008.[10] However, in the light of a recent profits warning, which sparked an unprecedented thirty per cent-plus plunge in the company's shares, this appointment caused some concern to many shareholders.[11] Nevertheless, they voted to re-appoint him at their annual meeting on 9 July 2008.

He stepped down as chief executive in May 2010, as executive chairman in July 2010, and as chairman in January 2011 following the appointment of Robert Swannell.

On 19 January 2011, Rose was appointed as a non-executive director of Woolworths Holdings Ltd, a large South African retail group listed on the Johannesburg Stock Exchange.[12]

On 6 September 2012, Rose was appointed as non-executive chairman of Dressipi.com, an online personalised fashion service that matches clothes and accessories to a shopper's shape, style and individual preferences.[13]

On 22 January 2013 it was announced that Rose will be appointed as an independent non-executive director and chairman Designate of Ocado, a UK internet-only grocery retailer, effective from 11 March.[14]

He was recruited to advise the Government on turning around failing hospitals, asked to examine how to improve the organisational culture in under-performing hospitals and ways to recruit talent from inside and outside the NHS in February 2014.[15]

In 2014, Rose was created a life peer and took a seat on the Conservative Benches in the House of Lords.[16]

Marks and Spencer's 'Plan A' policy

As the company chairman, Rose was personally committed to further promoting green issues and the recycling of plastic bottles at Marks & Spencer. He had also pledged to reduce non-glass wastage by 25% and plastic carrier bag usage by 33% in the near future.[17]

Personal life

When Rose was 26 years old his mother committed suicide at the age of 49 by taking an overdose combined with alcohol. She had a history of depression.[6]

Rose lives in central London and Suffolk. He married Jennifer Cook in 1973 in St Marylebone; the couple have a son and daughter. After they separated, Rose lived with fashion writer Kate Reardon. After separating from Reardon in 2009, and stepping down from his positions at M&S, Rose and Jennifer divorced in 2010.[18]

On 16 July 2010, Rose was honoured by the University of Leeds, receiving an honorary Doctor of Laws (LL.D) from the same university and venue from which his son graduated.[19]

References

  1. ↑ "Stuart Rose Net Worth". TheRichest. Retrieved 10 March 2014.
  2. ↑ The London Gazette: no. 58803. p. 12885. 22 August 2008.
  3. ↑ "Crown Office Notice No. 2199440". The Edinburgh Gazette. HMSO. 19 September 2014. Retrieved 19 September 2014.
  4. ↑ The London Gazette: no. 60995. p. 18458. 23 September 2014.
  5. ↑ "Interview: Andrew Davidson: Full Marks for Stuart Rose". The Sunday Times. 15 January 2006. Retrieved 10 March 2014.
  6. 1 2 3 "Desert Island Discs with Stuart Rose as participant". Desert Island Discs. 22 November 2009. BBC. Radio 4.
  7. ↑ Elizabeth Day (31 May 2009). "As M&S turns 125, its boss Stuart Rose celebrates going green, girl power and chicken jalfrezi ready meals". The Guardian. London. Retrieved 10 March 2014.
  8. ↑ "Annual Review 2007 : Principal's Review". www1.hw.ac.uk. Retrieved 29 March 2016.
  9. ↑ "Remuneration" (PDF). Letter to shareholders. Marks & Spencer. 3 April 2008. p. 4. Retrieved 18 August 2009.
  10. ↑ "List of Public Companies Worldwide, Letter". Bloomberg BusinessWeek. Retrieved 10 March 2014.
  11. ↑ Irish Times, 9 July 2008, p.19, Business Today
  12. ↑ "Woolworths Names Former Marks & Spencer CEO As Director". The Wall Street Journal. 20 January 2011.
  13. ↑ "Former Marks and Spencer chairman Sir Stuart Rose joins fashion recommendation site Dressipi in advisory role". The Next Web. 7 December 2012.
  14. ↑ "Directorate Changes". Otp.investis.com. Retrieved 10 March 2014.
  15. ↑ "Sir Stuart Rose To Become Top Health Adviser". Sky News. 14 February 2014. Retrieved 15 March 2014.
  16. ↑ "Karren Brady and Sir Stuart Rose among new life peers". BBC News. 8 August 2014.
  17. ↑ The company book "Marks in time" celebrating the business's 12th year, was published by Orionbooks.co.uk in 2009.
  18. ↑ Steiner, Rupert (11 November 2010). "M&S boss who was married to the job sells £400,000 of company shares to fund divorce". Daily Mail. London. Retrieved 11 November 2010.
  19. ↑ "Sir Stuart Rose". University of Leeds. 16 July 2010. Archived from the original on 22 September 2012. Retrieved 10 March 2014.
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