With the appointment of Gerard Kleisterlee as Vodafone chairman, the number of Brits heading the FTSE\’s top 20 companies falls to eight.
That rather kills off the Work Foundation\’s study that there is no international market in executives, eh?
Scanning the list of top 20 companies traded on the London Stock Exchange – from Vodafone to Rio Tinto to Xstrata – there is not one business without extensive overseas operations. Some companies may well have started off as British-run, but their growth into international markets is a major reason why they are so successful.
And that rather kills off the various bleatings about how FTSE is in any manner a reflection of the UK economy.
It also rather undermines Ritchie\’s blatherings about the tax gap as well. Huge chunks of, the majority almost certainly, of the profits made by UK listed companies are not made in the UK. Whimpering that in not paying tax here they are therefore breaching some spirit of the law is nonsensical therefore.