Simon Wolfson

Simon Wolfson
Born Simon Adam Wolfson
27 October 1967
London, England[1]
Occupation Businessman

Simon Adam Wolfson, Baron Wolfson of Aspley Guise (born 27 October 1967) is a British businessman and currently chief executive of the clothing retailer Next plc and a Conservative life peer. He is the son of former Next chairman David Wolfson, Baron Wolfson of Sunningdale, also a Conservative life peer.

Early life and career

He attended Radley College, near Abingdon, followed by studying law at Trinity College, Cambridge.[2] Wolfson joined Next as a sales consultant in its Kensington branch in 1991, the year his father was granted his peerage. The following year, he was taken on as assistant to Next's chief executive, David Jones.[3] Wolfson made his way up the ranks within the company rapidly, being appointed to the board of directors in 1997, and culminating in his appointment as chief executive in August 2001.[3] At the age of 33, this made him the youngest chief executive of a FTSE 100 company.[4] He was one of the first businesspeople to predict the 2008-9 economic crisis.[5] In 2013, he waived his £2.4 million bonus and gave it to the staff of Next who had been with the company since 2010.[6] Wolfson earnt £4.6m in 2013, a sum 459 times greater than the average pay of Next employees, who typically earn £10,000 per annum.[7] In 2014, for a second successive year, Wolfson waived his bonus and distributed it among staff, sharing some £3.8m.[7]

Conservative Party

He is a prominent supporter of the Conservative Party, having donated to David Cameron's campaign in the 2005 leadership election and co-chaired the party's Economic Competitiveness policy review. He was named by The Daily Telegraph as the 37th-most important British conservative in 2007.[8] He was one of 35 signatories to an open letter calling on the Chancellor of the Exchequer, George Osborne, to press ahead with the coalition government's plans to reduce the public finance deficit in one term in the face of opposition.[9]

On 18 June 2010, Wolfson was created Baron Wolfson of Aspley Guise, of Aspley Guise in the County of Bedfordshire,[10] and was introduced in the House of Lords on 6 July 2010.[11]

Wolfson owns houses in London and in Leicester, where Next is based.[4]

The Wolfson Economics Prize

Wolfson is the founder of the £250,000 Wolfson Economics Prize.

Footnotes

  1. ↑ http://www.debretts.com/people/biographies/browse/w/25740/Simon%20Adam%20Wolfson+WOLFSON%20OF%20ASPLEY%20GUISE.aspx
  2. ↑ Stiff, Peter (20 March 2008). "Business big shot: Simon Wolfson". The Times (London). Retrieved 14 January 2009.
  3. ↑ 3.0 3.1 Cope, Nigel (17 May 2001). "City concern as Wolfson junior bags Next job". The Independent (London). Retrieved 14 January 2009.
  4. ↑ 4.0 4.1 Mesure, Susie (30 March 2007). "Wolfson £3.7m share sale puts paid to Next bid speculation". The Independent (London). Retrieved 14 January 2009.
  5. ↑ Wilson, Amy (6 January 2009). "Simon Wolfson: Next chief who saw slowdown coming". The Daily Telegraph (London). Retrieved 14 January 2009.
  6. ↑ "Next Chief executive Lord Wolfson donates £2.4m bonus to staff". London: The Telegraph (web). 16 April 2013. Retrieved 9 January 2014.
  7. ↑ 7.0 7.1 Yvonne Roberts (31 August 2014). "Low-paid Britain: 'People have had enough. It's soul destroying'". The Guardian. Retrieved 31 August 2014.
  8. ↑ "The Right's 100 Most Influential". London: The Telegraph (web). 2 October 2007. Retrieved 14 January 2009.
  9. ↑ "Osborne's cuts will strengthen Britain's economy by allowing the private sector to generate more jobs". The Daily Telegraph (London). 18 October 2010. Retrieved 22 October 2010.
  10. ↑ The London Gazette: no. 59467. p. 11801. 23 June 2010.
  11. ↑ House of Lords Business, 22 June 2010