Image via WikipediaAnother lord, Lord Kirkham shows how to run a business. You may, or may not like his sofas but he looks after number one! DFS was founded in 1969, floated it on the stock market and in 2004 bought it back for £496million. The funding required will be repaid over the next five to nine years. The Equity Fingerprint is simple with Lord Kirkham having the lions share (83%) and his daughter and a family trust the remaing 17%.
Perhaps he does not have to provide any options to motivate his 2,714 employees now that the company is “only” opening two new stores this year. Lord Kirkham is the adopted son of a miner and started DFS with £400 of his own savings. No university education to muddle his mind!
I wonder whether he is a good speaker or just a brilliant motivator? Let us hope he enjoys his latest little earner – dividends of £46.3million.
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