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Derek Lovelock, Chief executive, Mosaic Fashions

Now presiding over six major high street chains after the sale of Whistles to ex-Topshop boss Jane Shepherdson earlier this year, Derek Lovelock remains a powerful force.

Although core brands such as Oasis and Principles have had a difficult year, there are still bright spots, with Karen Millen and Warehouse both enjoying a loyal following.

All this aside, Lovelock was dealt a massive blow at the end of the year with the collapse of Kaupthing, a shareholder and banker to Mosaic, and the knock-on effect this had on Baugur, which owns 49% of Mosaic. This culminated in speculation that Sir Philip Green would take over debt within the business and control of its brands, but so far no deal has materialised.

Lovelock himself has been linked to a buyout of the business but rumours persist that the group will be broken up into more manageable chunks in early 2009.

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