North West chairmen win non-exec awards
THE chairmen of two North West public companies have won praise at the 2010 Non-Executive Director Awards.
Phil White, chairman of Manchester car dealer Lookers, was named as the best non-exec working for a company quoted on the full list.
The judges said: “His boardroom style tests managerial decision making and focuses on long term shareholder value, which has included a revised incentive structure to reduce costs and fully motivate the company’s management team.”
Lookers reported a 13.5% increase in sales to £988.3m and a 140% rise in pre-tax profits to £21.4m for the six months to June 30. Full-year sales are expected to top £1.7bn when the results are announced on Wednesday.
John Gregory, chairman at Cheshire-based pharmaceutical company IS Pharma picked up the award for best non-exec at an AIM-listed firm.
The Chester-based firm saw its shares rise in value last month on the back of merger talks with Surrey-based Sinclair Pharma.
Simon Hayes, chief executive of award sponsor Peel Hunt, said: “The work of NEDs continues to be of vital importance as they guide companies through the challenging economic environment. Their role is more demanding and scrutinised than ever before but their experience and perspective is proving essential to helping companies navigate towards recovery.”
