Blog: Green snubs Rose
Leonie Barrie | 5 April 2007
For all his successes, from launching Designers at Debenhams to fronting Tesco’s growth as a clothing force to be reckoned with, Terry Green will probably be best remembered for presiding over the collapse of Allders in 2005 with debts of more than GBP300m. So it’s perhaps surprising that his rumoured move to M&S has come to nothing, since it would have proved once and for all that his credibility in retail circles is intact again. Instead, Green has used the discussions to negotiate what is believed to be a big pay rise and a new and more powerful role at Tesco.
Green's rejection is an embarrassing snub to M&S, but also a sign of Tesco's growing power in clothing retail. The saga also raises questions about high-level executive shortfalls at M&S, where CEO Stuart Rose keen to concentrate on strategic issues instead of taking a more hands-on approach to the day-to-day running of the business.
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