The FTSE 350 has lost one of its few female chief executives as Ruby McGregor-Smith quit as boss of outsourcing group Mitie Group PLC (LON:MTO).
Lady McGregor-Smith was also the first Asian chief executive of a FTSE 250 company. She will be succeeded by Phil Bentley, who was once chief executive officer of Cable & Wireless Communications and, before that, managing director of British Gas.
The company, which provides staff for care homes, airports and offices, said McGregor-Smith herself had conducted a detailed review over who should succeed her in a role she had held since 2007.
The review kicked off late last year but the timing of the changing of the guard has inevitably been linked to the profit warning the company issued last month, which lopped around a quarter off the company’s market value.
Mitie said it was facing short-term economic pressure including lower UK growth rates, changes to labour laws, further public-sector budget cuts and EU referendum-linked uncertainty.
Moneysavingexpert.com guru Martin Lewis has highlighted what he calls the “disgraceful exchange profiteering” being conducted by foreign exchange firm Moneycorp at Gatwick airport.
In the wake of sterling’s “flash crash” on Friday, Moneycorp was offering to convert US dollars into sterling at a pre-Brexit rate of US$1.4979, but anyone wanting to buy dollars from them would only get a post-Armageddon US$1.0828 for each quid coughed up.
Not so much a fat finger escapade as a fat cat episode.
No wonder they shouted at me "you're not allowed to photograph that". Disgraceful exchange rate profiteering at Moneycorp Gatwick. pic.twitter.com/jdz0Nnzzck
— Martin Lewis (@MartinSLewis) October 9, 2016
It’s National Moratorium on Pointless Marketing Promotions Day today. Hang on; make that WorldPorridgeDay, which will confuse the oatmeal eaters in the States.
It’s the day when marketing numbskulls spend time in prison “doing porridge” for inflicting official sounding but commercially-motivated “days” on us.
One for prisoners & former prisoners everywhere? #WorldPorridgeDay pic.twitter.com/y5Cp7s3isz
— Alex Cavendish (@PrisonUK) October 10, 2016
No, hang on again, it is, sadly, just another promotional wheeze for Goldilocks’s favourite breakfast.
Methodist Heritage tweets a bit of advice from noted life and soul of the party, John Wesley.
"Milk, milk-porridge & water-gruel are the proper breakfasts for children," according to Mr Wesley.
Advice from #Methodist John Wesley, for #WorldPorridgeDay
"Milk, milk-porridge & water-gruel are the proper breakfasts for children". pic.twitter.com/SHQfsSeohD
— Methodist Heritage (@MethodistHerit) October 10, 2016
Thank heavens it is also Chocolate Week this week, though I suppose you could always have your porridge with chocolate milk.
I think I’ll stick with my bacon sarnie while covering my bets with a small investment in OptiBiotix Health plc (LON:OPTI), the life sciences business that is developing compounds to tackle obesity, high cholesterol, diabetes and skin care.
Talking of skin care (and laboured segues), InnovaDerma PLC (LON:IDP) was up an astonishing 283% this morning after it said it would declare a maiden profit on the back of a much improved performance in the financial year just ended.
Just over a month after it listed in London the Aussie firm knocked the market for six with its trading statement, which revealed its Skinny Tan business is going through a golden period.
In case you were wondering what a “skinny tan” is – it’s completely different from a tinnie scan, which is an X-ray check at airports down under to make sure you are not importing drinkable beer in cans into the country – here is the explanation:
“Skinny Tan is the first self-tanner that combines a natural tanning active with naturally derived skin smoothing actives to tan, contour and reduce the visible appearance of cellulite.”
Crikey!