The patchy record of Norman conquests
AFTER 23 years in business and five in politics, Archie Norman, 48, is not the obvious first choice to rescue ailing Energis.
True, he has turned a nearly bust company around before. But that was back in the 1990s and the company was Asda, the supermarket chain which was bought out by Wal-Mart in 1999.
Investors made 600% on their investment if they backed Norman when he took charge in 1991 until the sale to the Yanks. Norman himself made remarkably little in terms of serious wealth.
By then he was into politics, having been elected Tory MP for Tunbridge Wells in 1997. His star rose and rapidly fell with that of fellow Yorkshireman and McKinseyite William Hague.
Norman continued dabbling in business. In 1999 his appointment as chairman of curtain trimmings maker Thomas French sent the share price soaring to 115p. When he left in 2001 it was down to 23p. This April French went into voluntary liquidation. He was also at the centre of the spectacular rise and ignominious fall of shell company Knutsford.
Norman has held out for 'the big job' where he could make a difference. But his former deputy, Allan Leighton, is the one who has made the headlines at Bhs, Lastminute and Consignia.
