Arise Sir David, an Interim Philanthropist

Arise Sir David, an Interim Philanthropist

"JJB at the centre of a fresh scandal", stated the article on page one of the Sunday Times Business supplement on 1st March 2009. The alleged scandal was that JJB were paying Sir David Jones £3000 a day in his new position of Interim Executive Chairman. It sounds a lot but Sir David has been given the task of saving the embattled sports retailer and securing the jobs of its 10,000 employees. JJB has defended its decision, saying that the daily rate is justified as it is a short-term assignment and Sir David would not be paid a bonus. I think that JJB are getting an absolute bargain at £3000 a day and its Sir David’s philanthropic love of British retailing that has stopped him asking for a fully justified higher rate. If you look at how Sir David transferred Next from the brink of failure into the icon of the high street it is today, or if you have read his remarkable and inspirational biography, you will clearly understand why JJB made the appointment.

Those not convinced with Sir David’s credentials and believe £3,000 a day is expensive, think on….JJB is only weeks away from collapse and Sir David’s raison d'etre is to save the company and 10,000 jobs. If you reduce the economies of scale by 10, and consider an Interim Manager at a different business being paid £300 a day to save a business and 1,000 jobs, most people who know about interim management would say they were being grossly underpaid. So when you look at these economies, and the scale of the task at hand, it becomes clear that JJB are onto a good thing with Sir David.

And it has only taken JJB a month to receive payback (several times over) on what Sir David will cost them. As Sir David’s first task in his new role was to give the chop to the companies Agusta 109 Helicopter, selling it for £4 million and saving a further £500k pa on running costs. The sale of the second Helicopter (yes can you believe they had two!!) will put a further £2million into the JJB coffers, which puts into perspective the relatively small figure of £400k, which Sir David will cost JJB over a six-month period.

Still not convinced Sir David is worth his interim crust? Well do you think that Frank Lampard is worth 6 times more than Sir David as that’s what he is paid. I have heard Lampard brag that he is the only player at Chelsea with any GCSE’s but is he worth 6 times more than a man trying to save 10,000 jobs? Of course he isn’t (particularly with Chelsea well off the pace in the Premier league!).

In my opinion, the Headline in the Sunday Times Business supplement should have read “JJB at the centre of a fresh scandal - as it pays Sir David 6 times less than Frank Lampard to save 10,000 jobs.”...........

Comments

David Toan said…
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David Toan said…
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Cao đẳng said…
“Dịch vụ Làm bằng đại học giá rẻ” của chúng tôi sẽ phần nào giúp bạn tìm được những công việc tốt nhất,
chỉ cần bạn nhấc điện thoại lên và gọi cho chúng tôi, dịch vụ Lam bang dai hoc chuyên nghiệp sẽ có ngay trên tay
của các bạn.

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