I am obviously saddened to be leaving a business of which I am so proud.
However, the continuing negative press I have attracted leads me to believe
that this is in the interests of the group and the people working in it.James McAdam, chairman, acknowledged that press comment had been a
major factor in the resignation.
It’s his decision and it would be wrong for me to add to it. It’s sad for every-
body. It’s the end of an era. He’s been in the group for 26 years and built it
up from small beginnings ... The bad press has not died down. It was some-
thing that happened on an almost daily basis.Associates of Mr Ratner insisted,^34 however, that he had been the victim of
a boardroom coup. ‘They have been waiting in the long grass for him for
some time,’ said one. He offered his resignation to a full board meeting,
and it was accepted – normal City parlance for a forced resignation. Mr
McAdam took direct responsibility for the UK jewellery business and the
US operation would report to him through Nathan Light.
References
1 Retail Jeweller, 1 July 1992.
2 Guardian, 24 April 1991.
3 Retail Jeweller, 10 December 1992.
4 Independent, 29 November 1992.
5 Financial Times, 24 April 1990.
6 Daily Telegraph, 9 September 1987.
7 Financial Times, 31 July 1987.
8 Financial Times, 4 July 1987.
9 Financial Times, 28 January 1988.
10 Financial Times, 12 October 1988.
11 Financial Times, 7 May 1987.
12 Financial Times, 24 April 1990.
13 Financial Times, 3 July 1990.
14 Financial Times, 4 January 1991.
15 Guardian, 25 April 1991.
16 Financial Times, 4 May 1991.
17 Financial Times, 9 July 1991.
18 Guardian, 16 September 1991.
19 Guardian, 4 October 1991.
20 Financial Times, 7 February 1992.
21 Financial Times, 11 February 1992.
22 Financial Times, 11 January 1992.
266 Relationship Marketing