Peter Marks appeared more relaxed than usual at The Co-op’s interim results yesterday. The last time I saw Marks was at Retail Week conference when he was literally sprinting down a corridor to go to a meeting in Westminster.
Peter Marks appeared more relaxed than usual at The Co-operative’s interim results yesterday. The last time I saw Marks was at Retail Week Conference when he was literally sprinting down a corridor to go to a meeting in Westminster.
He has often cut a rushed and frantic figure in the last couple of years.
Hosting journalists in Fleet Street, the home of scribblers, Marks was frank and to the point to the press pack keen to delve into a business suffering a fall in profits he claims is due to investment and awful consumer conditions on the high street.
Marks revealed he is to retire next year earlier this month and appeared chipper about the footing the business is on despite the results. Having got the heads of terms on a deal to buy Lloyd’s Verde business and secured a £950m refinancing deal, he is understandably relieved to be on the other side of some tough days at work.
Joking about “doing a double act” with chief financial officer Steve Humes, he also noted media reports claiming that The Co-op got a good deal with Lloyds and suggestions Marks may renegotiate a lower price. “[The press claim] I’ve already got the shirt off their back and their cufflinks!” he quipped.
Marks is to take up a number of non-executive positions on his departure but is likely to take it easy have brought together a disparate business that could be the size of a FTSE top 30 company if it were listed.
Whether he heads off on tour as drummer in his band Angel Square or celebrates by going shaving off his famous beard, Marks will doubtless enjoy some precious R&R.
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