CHIEF EXECUTIVE of Scottish Widows Mike Ross might be under pressure to retire early from his post i...
CHIEF EXECUTIVE of Scottish Widows Mike Ross might be under pressure to retire early from his post in the latest company shake-up according to fresh speculations.
The Scotsman says report released yesterday imply that a possible early exit by Ross ispart of a wide-ranging series of measures being planned for the company.
These reports show that plans by Eric Daniels and Philip Hampton - the new chief executive and finance director respectively of Lloyds TSB Group - might include replacing Ross as well as make a radical overhaul of all Scottish Widows' operations.
But Ross says he has no plans to retire and the pensions giant's parents company Lloyds TSB refuses to comment on the speculations.
Both Widows' finance director Jim McConville and the Scots IT operations director for Lloyds TSB Archie Kane are believed to be in line for the position if it became vacant.
LAST WEEK'S announcement that the Russian oil billionaire Roman Abramovich had made a £59m takeover bid for Chelsea Village sparked a new debate yesterday after it was revealed that one of its directors is also a former executive of Enron.
This comes after it emerged that the company's new director Richard Creitzman for a while worked as Enron's Russian development director, reports the Telegraph.
Despite Creitzman's brief connection with the collapsed energy giant, his links with the company will add to the already existing concerns over Chelsea's new owners as the FSA announced it is investigating a number of transactions in Chelsea Village shares prior to the takeover.
MEANWHILE IN EUROPE some of the largest private equity groups are fighting to meet fundraising targets amid signs that more and more investors are opting for mid-market and country specific groups.
According to FT, this comes as investors have become increasingly worried that the large number of big-scale fundraisings could result in lower returns.
Instead investors have been choosing to invest in smaller more focused funds - believing the scopes to be greater.
As boss Tim Orton exits
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