PracticeConsultingThe Financial Week Ahead – Cash calls for Ross.

The Financial Week Ahead - Cash calls for Ross.

In the spotlight: Carphone Warehouse accountant to make millions in

Accountant David Ross and his boss Charles Dunstone can look forward this summer to personal riches from the flotation of The Carphone Warehouse of a level that could rival the national debt of a small country. The former public schoolfriends’ decision to float their mobile phone store business next month on the London Stock Exchange will see the business valued at as much as #2bn. Chief operating officer Ross has a 33% stake in the business, which could fetch the former Arthur Andersen trainee up to #700m, while his partner Dunstone is set to be looking at as much as #1bn. The 34-year-old accountant celebrated this week by running a half-marathon across the new bridge that links Sweden and Denmark with girlfriend Ali Cockayne, the mother of former England and Harlequins rugby star Will Carling’s son, Henry. ‘I said I would do this before the flotation was even imagined,’ said Ross. ‘The important thing is to make time for these sort of things,’ he added. Ross and Dunstone set up the company in 1989, with #6,000 and the chain has now grown from a turnover #1.5m to #689m last year with a 4,500 workforce who are the recipients of an ‘inclusive management style’. Earlier this year, Ross and Dunstone announced a #31m war chest to back wireless technology and internet ventures, and the pair hope to raise about #200m extra capital for their European expansion. Ross said: ‘We need to be a truly pan-European retailer and that requires further investment.’ M-commerce, where m is for mobile phone, will also be expanded with a European portal pre-installed in each Wireless Application Protocol phone the company sells by early next year. The duo met at Uppingham School in Rutland, where Dunstone first traded in cigarettes with fellow pupil and now Big Breakfast co-presenter Johnny Vaughan. jerry_frank@vnu.co.uk www.carphonewarehouse.com.

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