It wasn’t exactly a best-kept secret with widespread speculation in recent weeks, but on Monday e-shopping giant The Very Group announced Nadhim Zahawi Non-Executive Chair and board member.
And unlike many politicians who pick up plum roles as they prepare to exit or have already quit politics, Zahawi has solid business credentials.
He founded and led YouGov, the digital polling and market research specialist before entering Parliament.
The former senior Government Minister is MP for Stratford-on-Avon but won’t stand at the next general election (presumed to be some time this year).
He replaces current Non-Executive Chair Aidan Barclay at the £2.15 billion business that owns the Very and Littlewoods e-tailers. Barclay had assumed the role as a representative of the controlling Barclay family on an interim basis in February after Dirk Van den Berghe left at the end of his contract term.
The company said he’ll “work closely with the current directors and management team to achieve continued sales and profit growth, as well as exploring expansion of the business in new areas. In addition, he will work with the shareholders on the strategic options for the business and the optimal capital structure to achieve its growth ambitions. This may involve fresh equity investment in the short to medium term”.
Zahawi has been an MP since 2010 and was at one point the second most powerful person in the government as Chancellor of the Exchequer. During the Covid crisis he was Minister for Covid Vaccine Deployment.
As mentioned, he founded YouGov and was CEO as it developed its online-based survey methodology. During his tenure, the firm expanded globally, establishing operations into the Middle East and the US, and joined the London Stock Exchange as a listed business.
He was born in Baghdad, but he and his family fled Saddam Hussein’s regime to the UK when he was 11. His UK education includes a degree in Chemical Engineering from University College London.
Aidan Barclay said he has “a proven track record in digital growth and innovation, and [is] highly respected in the UK and global markets. He is ideally suited to lead our board as the company enters its next stage of strategic development and growth.”
