Robert is Assistant Editor of Reuters Breakingviews, based in London. He has a special focus on investment, writing about it on a global basis. Robert worked for The Times, in London, in a variety of writing and editing capacities from 1998 to 2010. For nearly 10 years he edited the newspaper’s daily Tempus investment column. He was also deputy business editor, acting business editor, a leader writer, the chief obituaries writer and a news editor in the home affairs department. Prior to joining The Times, Robert worked on The Independent and the London Evening Standard. His most recent book is called The Unwritten Laws of Finance and Investment (Profile, 2010). As a part-time lecturer, Robert led the financial journalism specialism at The City University in London in 10 academic years between 1995 and 2007. Follow Robert on Twitter @RobertCole7
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There’s a jumbo profit alert, a hacked-back dividend and lower capex. The new chief exec is also bringing forward his start date. Dave Lewis needs to reduce prices, rebuild the board, and launch a strategic review of the international business.
The chief exec and CFO are quitting the breakdown firm two months after the IPO. It may not be a post-float car crash: the market seems to like the show of decisiveness by the chairman, now de facto CEO. But the timing is troubling, as is AA’s rejection of conventional governance.
Shareholders ultimately lose out when too-high payouts prevent companies from responding well to problems. Right now, Tesco needs all the financial flexibility it can muster. With a new CEO coming, the UK grocer has a window of opportunity it would be wise to climb through.
- Carillion's new Balfour offer still falls short
- Corporate Europe parades bill of good health
- Reckitt pharma spinoff looks like a cold turkey
- UK construction tie-up needs more than cost cuts
- Tesco’s new chief should think the unthinkable
- Burberry and StanChart need Peace to break out
- German soccer glory was predictable - with luck