Yesterday the Sunday Times published its annual Rich List.
Once again, the ranking of the UK’s 1,000 individuals and families with the most cash to splash featured its fair share of figures from our sector. Highest placed in the list is the Weston family, owners of a big chunk of Associated British Foods, in ninth.
Sir Ken Morrison is a big faller, down from 30 last year to 64th in the list. His clan’s fortune is estimated to be worth £500m less than it was a year ago. But he’s still comfortably over the billion pound mark.
Travelling the other way, but still some distance behind Sir Ken, is Ranjit Boparan, the new proprietor of Northern Foods rising 75 places to 275th with a fortune of £275m.
Boparan is also likely to see his star rising in this year’s Power 100, The Grocer’s revamped rankings of the biggest hitters in food and drink retail. That comes out in a couple of weeks’ time.
One man who now won’t be on the list is Darren Shapland. The influential Sainsbury’s development director today announced his surprise departure from the retailer, moving on to “personal interests” in July.
While such ups and downs reflect how quickly fortunes (in every sense) can change, here’s a long-range projection for you.
In our 2013 power list, you’ll see the name of the Adjudicator – but not before then.
It now looks like the grocery code of practice won’t come into effect for another two years, much to the dismay of suppliers, due to what the government called a “busy” legislative program.
That’s despite consumer minister Edward Davey saying just last month that legislation was “ready to go” and a priority for the government. So we’re no closer to knowing who the Adjudicator will be – a faceless civil servant, say, or a heavyweight industry poacher-turned-gamekeeper.
How influential the title-holder ultimately proves to be will depend at least to some extent on the character of the appointee. It goes without saying that few of the Sunday Times’ wealthiest are shrinking violets.
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