Planet Business

A round-up of other news in brief

A round-up of other news in brief

Getting to know... Alex Gorsky

Healthcare behemoth Johnson & Johnson has a new chief executive, a former US Army Ranger called Alex Gorsky (51), who it is hoping will mop up the damage caused by lapses in its quality control that saw large recalls of a number of its consumer medicines in recent years. “Mission number one, two and three is getting these products back on the shelves,” said Gorsky. “You never say Ranger in the past tense. I’m still a Ranger, he told Reuters, attributing his business success to his army training.

“The first rule of leadership is you have to learn to be a good follower”. Yes sir.

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The Lexicon

Shwopping

Looking only slightly sheepish about the whole thing, actress and campaigner Joanna Lumley appeared on Sky News yesterday morning to talk about “shwopping”, a Marks & Spencer initiative that the retailer contends will “revolutionise clothes shopping” as well as help consumers to live more sustainable lifestyles. All M&S clothing stores will now accept unwanted clothing of any brand, all year round, in a bid to create a “buy one, give one” culture.

It’s all for a good cause: through Oxfam, the clothes will be resold, reused or recycled, with M&S ultimately aiming to recycle as many clothes as it sells – or roughly 350 million items a year.

Sky presenter Eamonn Holmes, meanwhile, attempted to charm Lumley by suggesting her own sartorial choices should be put up for auction, not handed over the counter at M&S. See also: shwop, shwop drops, shwoppers.

Image of the week: Standards my dear

“Give three-piece a chance” and “tweed not greed” seem like unlikely placard slogans, and yet here they are, at a protest of “chaps” and “chapettes” who are indignant at the proposal of US clothing retailer Abercrombie & Fitch to open a children’s outlet on Savile Row, the traditional home of men’s tailoring in the Mayfair district of London. Monday’s protest was organised by Chap, a magazine for English gentlemen whose manifesto includes cultivating interesting moustaches and which really should be featured as a guest publication on the headlines round of Have I Got News For You – if it hasn’t already. Photograph: Matthew Lloyd

In numbers

Netflix, streaming and mailing

14

– The percentage drop in the share price of Netflix on Monday, after the world’s largest video streaming subscription service forecast a slower rate of subscriber growth in the second quarter.

1.21 million

– The number of international subscribers that the US company added in the first quarter, during which time the service launched in Britain and Ireland. Netflix now has almost 3.1 million users outside the US.

10.1 million

- The number of DVD-by-post customers Netflix retains in the US. The mail service, still the most profitable part of the business, lost 1.1 million customers in the first quarter, but the rate of decline is slowing down.

Laura Slattery

Laura Slattery

Laura Slattery is an Irish Times journalist writing about media, advertising and other business topics