BII Chairman Resigns
Potboy (Mayfair) was having a swift jug in his favourite watering hole near Park Lane and the Landlord grabbed him and said had he heard the latest news, the Chairman of the BII had resigned, the obvious comments went round the immediate circle of “ A rat leaving a sinking Ship.”
Rather did he jump or was he pushed?
Whatever, there has to be a “Fall Guy” otherwise too many others with cushy numbers will get their heads chopped, the BII have too many and the redundancy bill is way beyond its current assets.
The discussion took a more focussed view since the gathered drinkers were all involved in the business of selling beer one way or another.
When Grant took over as Chairman, he had previously been Treasurer. The finances were a comfortable £3.5 million, they spent £2 million buying the offices, at the height of the boom, leaving reserves of £1.5 million.
They lost around £1 million during the course 2008/9 and made a small profit in 2010, leaving reserves of around £.5 million, in 2011 they lost a further £400K and the Chairman said that they would need an overdraft by June, a view apparently not shared by the new CEO.
Another division of the BII has seen its market share drop by £500K, it does not look impressive.
Potboys’ source in the City said there was some talk of basic qualifications being made available at cost or below to a major supermarket, they as any supermarket supplier knows dictate the price, if this is correct a dangerous strategy.
The Financial Director of a number of years, was removed post haste a couple of years ago for supposedly trying to better his life style.
The Membership Director was made redundant after quite a few years service, within the last two years.
The conclusion was that the whole situation is in a very tricky mess.
However the one light on the horizon is that Bernard Brindley is taking over the Chair, a very nice guy, but whether he has the experience and expertise to put the BII back on the road to financial recovery and universal acceptance is a major question mark.
Potboy would have liked Phil Dixon to have thrown his hat into the ring for the position of Chair, he has good experience of a successful BII, as Membership Director and is more of a street fighter than Bernard.
Interesting times, watch this space.
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