Sir Stuart takes on Bridgepoint role to give consumer insight

SIR Stuart Rose is to join the private equity firm which owns Leeds Bradford Airport as an adviser in his first new role since he announced his departure from Marks & Spencer.

The retail veteran, who is to step down as M&S chairman in January, will join former health secretary Alan Milburn and ex-HBOS chief executive Sir James Crosby on the European advisory committee of buyout group Bridgepoint.

He will provide Bridgepoint with a consumer insight for its investments, which currently feature a Europe-wide retail portfolio of more than 2,500 stores and 16,500 employees. UK brands include Pret A Manger, Fat Face and HobbyCraft, while in January it exited its investment in Pets at Home when it sold the business to another private equity firm in a deal worth 955m.

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Sir Stuart re-joined M&S at the time of Sir Philip Green's 9bn hostile takeover approach in 2004 and steered it to profits of 1bn two years ago. He was knighted in 2008 for services to the retail industry.

Bridgepoint managing partner William Jackson said: "He's had a fantastic business career and has unparalleled experience in the retail world where Bridgepoint has made substantial investments over the years. It will be great to have him on the team."

In a change announced last month, Sir Stuart – a non-executive director of Land Securities and chairman of Business in the Community – will be replaced as M&S chairman by City banker Robert Swannell.

Bridgepoint bought Leeds Bradford Airport in 2007.

It has a portfolio of businesses in a range of sectors which employ more than 40,000 staff. Bridgepoint's other investments include healthcare business Tunstall and the John Brown Media Group.