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Friday, 12 April 2013

LUC VANDEVELDE - FROM YEAR 2000 (M&S)

Way back in the year 2000, I started gathering a file of retail cuttings and, on browsing through it today, I found this collection of quotations from Luc Vandevelde, then Chairman of Marks and Spencer:

"This is a big job."

"The most important management act is recruiting the right people.  If you've got that right, everything's right from there.  If you get that wrong, everything's wrong from there.  There is no grey; it's black and white.  The second most important thing is if you make a mistake in hiring, you've got to correct it in firing."

"We haven't done enough of what made the brand great.  The customer base is still there but maybe we haven't brought enough of the added value that M&S used to bring.  Maybe we haven't acted fast enough."

"I would not be sitting here if I did not think we could create substantial shareholder value on our own. If and when a bid comes, the firm is prepared to deal with it."

"The first priority is to get the company back to where it belongs."

13 years on......much changed?

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