Lastminute.com chairman resigns

ALLAN Leighton, famed for 'going plural' with a host of company directorships, today sensationally dropped nearly half of his roles.

In a move that instantly triggered speculation that he is gunning for a big job somewhere else in corporate life, the former Wal-Mart executive is giving up his chairmanships of Lastminute.com, Cannons fitness clubs and a board role at vacuum cleaners group Dyson.

While he retains directorships at four other companies, he is known to have received approaches from venture capital companies and banks on a number of potential big buyout roles.

This week there has been speculation about him being a possible candidate for leading a takeover of troubled supermarkets giant Sainsbury's.

Today he refused to comment on the Sainsbury's speculation, or on what position he might take up, beyond tantalisingly saying: 'The New Year is a time when lots of things happen.' Leighton remains committed to his concept of plural roles, saying he may replace the three posts with 'one or two' new positions.

There has been speculation that Leighton may be removed from his role as chairman of Royal Mail as he is thought to have been in conflict with the government over future ownership of the State-owned postal service.

Leighton said: 'I would like to continue on the work we have started [at Royal Mail] but my position there is up to the shareholder and no doubt they will make their own decision.'

The other roles that he retains are directorships at Philip Green's Bhs, BSkyB and dynastic tycoon Galen Weston's companies including Selfridges. At Weston Holdings, Leighton is spending time developing the business in the US. The work he is giving up today amounts to an average of about one and a half days a week.

Lastminute.com has appointed retailing veteran Brian Collie, current non-executive director, to replace him in the chairman's role. Collie had already announced his intention to step down from his main board position at the airports operator BAA, where he is in charge of running its shopping and e-commerce operations.

Leighton worked unpaid for Lastminute.com and claimed he got fairly standard consultancy fees at privatelyowned Cannons and Dyson. Both are expected to announce replacements by Christmas.

While Leighton was careful to give the impression that he did not have anything concrete in the pipeline, scaling down his activities permanently was not an option: 'I am not looking to spend more time with the family because, frankly, they don't want me to,' he said.

Leighton added: 'I have always been pretty open-minded about the roles I take on but most things have an aspect of retail about them.'

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