Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

45. Brian McCluskey, chief executive, Office

Brian McCluskey

Position last year: 36

Speculation over the ownership of the firm was finally put to rest this year when Brian McCluskey led the sale of Office to South African retailer Truworths International for £256m in November.

The new owners bought an 89% share of the retailer while management, led by McCluskey retained 11% with an option to cash out after three years. Private equity firm Silverfleet Capital, which has owned Office since December 2010, said the sale followed a five-year period of investment, during which the chain achieved “significant growth” in the UK and Germany.

This year was also very lucrative for McCluskey. Soaring profits resulted in he and the firm’s other directors – chief financial officer Emily Tate and former CFO Ian Findlay – pocketing £61.3m in dividends, after no payout in 2014. Under McCluskey, in its most recent financial results, Office doubled its operating profit to £56.9m for the year to January 25. Turnover at the business increased 5.5% to £270.2m for the year, while like-for-like sales were up 1.2%. Sales across the UK and Europe were up 4.8% and 22% respectively, but fell 11% in the rest of the world

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.