Mr De Haan, the owner of Saga, has decided to cash in his chips, take the pictures from the wall, collect his long service clock and head for the door; closely followed by a team of financial advisers managing the £1 Billion he has just collected.
Well done Mr De Haan. It is great when somebody sees an opportunity, way ahead of the market, commits themselves and succeeds. The sale values Saga at 3.5 times revenue (2004) and 16 times profit (2004).
I thought his statement, reported in the article in the Telegraph, was great: , he said he would be leaving the company as he would "hate to be thought of as the old codger on the fifth floor". He is 55 years old. Dick Stroud www.20plus30.com
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