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Carphone Warehouse director 'retires' at 37

Pursuit of a leisurely life sparks decision to stand down...

By Will Sturgeon

Published: 13 July 2001 08:51 GMT

Guy Johnson, distribution director at Carphone Warehouse, is stepping down in order to spend more time with his money.

Johnson, 37, holds a £120m stake in the UK mobile phone distributor and hopes to make the most of his financial security after 12 years with the company. The Financial Times reports that Johnson is looking to "take life more easily".

Shares in Carphone Warehouse have been falling in recent months amid fears of one of the company's major shareholders, either founder and chairman Charles Dunstone, COO David Ross, CFO Roger Taylor or Johnson, standing down and selling their stake. However, in an effort to halt further decline Johnson has agreed not to sell any of his 92.6 million shares during the next two years without the approval of the Carphone Warehouse board.

Johnson will not be replaced and his responsibilities will be shared out among the company's managers.

He has not announced any plans as to what, if anything, he will do next.

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