R E L A T E D C O N T E N T

FDs make bad chief execs

Alex Hawkes, Accountancy Age, 19 Feb 2007

Chairman of soon-to-be-floated Sports Direct voices doubts about FDs who go on to take the top job

Finance directors do not make good chief executives, the former FD of Whitbread and chairman of Sports Direct has said.

David Richardson, the chairman of the soon-to-be-floated group, made the comments in an interview with The Sunday Times.

Referring to his own reluctance to go for the top job at Whitbread, Richardson said: 'I don't feel finance directors make good chief executives and I didn't want to do it.'

FDs often aspire to the top job, and many FTSE100 chief executives are former accountants.

Richardson himself trained as an accountant, working for Touche Ross at one stage.

The Sports Direct flotation is set to be one of the most high-profile IPOs of the year, with founder Mike Ashley set to pocket a fortune when it floats.

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