Feeds

CPW man quits Olympic committee

Boris loses yet another adviser

Application security programs and practises

David Ross has resigned from his position as adviser to London Mayor Boris Johnson, after coming under fire for using his stake in Carphone Warehouse as collateral for a loan, without informing the company.

Board directors may not deal in the company's shares without telling the chairman and getting his permission first - putting shares up as collateral against a loan counts as share dealing. In cases of a public company the chairman would then inform the stock market.

The Financial Services Authority is not commenting on whether or not it is investigating Ross who has already resigned from the board of CPW.

Boris Johnson said he had accepted Ross's resignation with sadness.

Johnson said: "I appreciate why David Ross feels he ought to stand down from the Board of LOCOG [London Organising Committee of the Olympic Games] and the Legacy Board of Advisors. I understand he has also offered to resign from the Olympic Lottery Distributor. He will, nevertheless, be a loss, having played an active and very useful role over the last seven months."

The London Mayor said he had chosen Ross for his track record in establishing a hugely successful business and wished him well for the future.

Ross's other big business is a commercial property business, Kandahar Real Estate, a £500m property portfolio set up with Morgan Stanley. The group has a portfolio of 13 provincial shopping centres - a sector which has seen sharp falls in value in recent months.

Ross has worked with Charles Dunstone since the very first days of Carphone Warehouse. He will be missed as the firm tries to juggle the roll out of its joint venture with US firm Best Buy to become a big player on a shrinking High Street.

David Ross remains a director of several other firms - he is chairman of National Express and is a big donor to the Tory party. ®

HP ProLiant Gen8: Integrated lifecycle automation

More from The Register

next story
Google Nest, ARM, Samsung pull out Thread to strangle ZigBee
But there's a flaw in Google's IP-based IoT system
Want to beat Verizon's slow Netflix? Get a VPN
Exec finds stream speed climbs when smuggled out
US freemium mobile network eyes up Europe
FreedomPop touts 'free' calls, texts and data
'Two-speed internet' storm turns FCC.gov into zero-speed website
Deadline for comments on net neutrality shake-up extended to Friday
GoTenna: How does this 'magic' work?
An ideal product if you believe the Earth is flat
NBN Co execs: No FTTN product until 2015
Faster? Not yet. Cheaper? No data
Oh girl, you jus' didn't: Level 3 slaps Verizon in Netflix throttle blowup
Just hook us up to more 10Gbps ports, backbone biz yells in tit-for-tat spat
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Mobile application security vulnerability report
The alarming realities regarding the sheer number of applications vulnerable to attack, and the most common and easily addressable vulnerability errors.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.