It is hardly surprising that Storehouse decided to promote Christopher Martin when group FD Dick Steele became the latest to hit the store chain’s famed revolving door. Martin was FD of the group’s Bhs subsidiary, so avoiding trying to entice an outside finance chief to step in which would not have been easy, given the group’s habit of losing top people, especially FDs.
Steele was in the job barely three years, but that is something of a record for Storehouse. Two of his predecessors lasted no longer than a year, while the chap he eventually replaced was in the post for just 22 months. “Eventually”, because the group managed for a year with nobody in charge of the finances.
Mind you, Steele is not one for letting the dust settle. His career includes three other plcs since leaving KPMG spending under three years at each. Perhaps superglue is called for next time he lands a board seat. And the headhunters are probably already looking for alternatives for the newly-promoted Martin.