PATIENCE WHEATCROFT: The human factor

PATIENCE WHEATCROFT: The human factor - For a few months three years ago, Tim Holley became the subject of public vilification. Following an infamous parade of capitalists deemed to have over-stepped the line of what is considered acceptable, he found him

by PATIENCE WHEATCROFT, business and City editor of The Times

For a few months three years ago, Tim Holley became the subject of public vilification. Following an infamous parade of capitalists deemed to have over-stepped the line of what is considered acceptable, he found himself the butt of cartoonists' cruel brushstrokes. From relative obscurity, he was thrust centre-stage as the pantomime villain in a show that has since degenerated into total farce.

Holley was chief executive of Camelot and as such he was deemed to be making far too much money from the National Lottery. 'Where is he now?' you may be wondering. The answer is that he is still the chief executive of Camelot, but with a profile lower than the proverbial snake's armpit.

Camelot's board judged that if the company was to have any chance of winning a second term at operating the National Lottery, then it would need someone other than Holley as the front man.

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