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Archie Norman moved to ASDA to lead the turnaround as Chief Executive. Over the subsequent eight years the business was transformed into the second largest supermarket group before being sold to Wal-Mart for an eight times multiple of the starting share price. Latterly, Archie acquired Energis, Britain’s third largest telecoms business, on behalf of the creditor banks and over three years refocused and rebuilt the business before agreeing a sale to Cable and Wireless for double the original price offered. |
