Money talks, love walks
Article Date: Aug 01 2004The cost of love appears to have gone up rather exponentially of late – at least it has for the directors of some of our best known brands. Within the space of a month, two chief executives sold a substantial amount of shares, with speculation rife that it is to fund potential divorce settlements.
The first unfortunate man in question was David Harding of betting shop chain William Hill, whose odds shortened by selling £5.2 million of shares, virtually all of his shareholding in the company. Harding is apparently no longer with wife Lucia.
Harding was quickly followed by Stephen Marks, founder of fashion phenomenon French Connection, aka FCUK, who sold £40 million of shares and as a result reduced his shareholding in the company from 51 per cent to 42 per cent, thereby losing majority control. He apparently split from wife of ten years Alisa almost a year ago. The ex-couple have three children.
For both companies it’s been a case of follow my leader, as shares in William Hill have since fallen 9.8 per cent to 504p and retail darling French Connection has dropped 9.6 per cent to 395p.
1/8/04
