Carphone co-founder quits London Olympics roles

Carphone co-founder quits London Olympics roles
Shamed Carphone Warehouse co-founder, David Ross, has resigned from all his roles in the organisation of 2012 London.

Ross has resigned from the London 2012 board and also quit his role heading up its finances.

The news follows Ross’ resignation from Carphone yesterday (December 8), after it was discovered that he had used his stake in the company to secure personal loans.

Olympics Minister Tessa Jowell and London Mayor Boris Johnson received an email from Ross earlier today.

The email said: ‘I reach this decision with sadness, as I have very much enjoyed making this contribution to British sport, which has been a lifelong passion. However, given the present circumstances, and while they are not connected to the Olympics, I must now devote my full attention to my private business interests.

‘I also do not wish to distract others from the important work still to do in making 2012 the success I know it will be.’

Ross, who was responsible for making sure the games did not go over the £9.3bn budget, was the mayor’s appointment to the board of London 2012. A replacement will now be sought.

The Carphone co-founder was discovered to have pledged 136.4 million shares against personal loans, through various agreements between 2006 and 2008, which he failed to disclose to shareholders.

Written by Mobile Today
Mobile Today


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