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Princes CEO Simon Harrison moving to Ultimate Products as Salter owner reveals ‘momentous’ succession plan

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Analysts call it a ‘great new CEO appointment’

Ultimate Products, the owner of a number of leading homeware brands including Salter and Beldray, has appointed Princes Group CEO  Simon Harrison as Chief Executive Officer

Ultimate Products has named Simon Harrison as its next CEO(Image: Ultimate Products)

Consumer goods group Ultimate Products has appointed Princes Group CEO Simon Harrison as its first external boss in a ‘momentous’ move welcomed by analysts today. Ultimate Products (UP) will also see its founder and current CEO stand down from their executive roles to become board members after decades growing the Oldham business.

Mr Harrison will succeed Andrew Gossage, who will be standing down in October following more than 20 years in executive roles at UP. After a short sabbatical, Mr Gossage will rejoin UP as a non executive director from May 1 next year.

Simon Showman, who founded the group in 1997 and was CEO until 2024, will continue as president when he moves to a non-executive director role from June 1 this year.

Mr Harrison joined Liverpool’s Princes Group as chief commercial officer in 2021 and became CEO in 2024. He was in charge when Princes was taken over by Newlat and listed on the Stock Exchange. Before Princes, he spent almost 20 years at Coca Cola European Partners.

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He will join UP as CEO designate on September 5 this year before becoming chief executive on October 26. UP’s share price rose as much as 10% in morning trading after the morning update.

UP bills itself as “the home of brands”, with 12 product divisions. Its brands include kitchen equipment specialist Salter as well as Beldray, which traces its history back to 1872 and which invented the adjustable ironing board.

In a research note this morning, analysts Clive Black and Darren Shirley at Shore Capital said the board changes were “momentous” but that Mr Harrison was a “great new CEO appointment”.

They said: “For the employees of UP, the announcements of Messrs. Gossage and Showman’s departures as executives will be a momentous one, noting the very special corporate culture that this management team has engendered over more than two decades, a very special component, in truth, of the commercial community in Greater Manchester.

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“However, in Mr Harrison, we see an experienced and capable executive who has the basis to nurture what is already special, whilst exploring the next chapters for customers, shoppers, and shareholders to collectively harvest to beneficial effect. We commend Andy Gossage and Simon Showman on their collective achievements and congratulate Mr Harrison on his appointment, wishing all well for the future.”

Christine Adshead, chair of UP, said: “We are delighted to welcome someone of Simon Harrison’s calibre to Ultimate Products. He brings outstanding leadership qualities, strong operating discipline and considerable commercial experience, and we are confident that he has the right credentials to take Ultimate Products forward into its next chapter. We look forward to welcoming him to the team.

“Andrew has made an extraordinary contribution to Ultimate Products in more than two decades with the group. He was a driving force behind UP’s evolution from a sourcing business into the Home of Brands, navigated the business through the operational challenges of the COVID period, and played a leading role in building the Group’s online business, which has grown twelvefold since IPO. He was also central in establishing our graduate development scheme, and more recently, has overseen the group’s ground-breaking automation programme.

“Without Simon Showman, who founded the business and led it for 27 years, there would be no Ultimate Products. He has been fundamental to UP’s development from a founder‑led sourcing business into the multi‑brand homewares group it is today. Simon’s entrepreneurial approach and sharp commercial instincts have shaped the business and the fast-moving culture that underpins it. Under his leadership, the group built a diversified portfolio of brands, established deep and enduring retailer relationships, and expanded its international footprint, while remaining rooted in the values and ambition that have defined it from the outset.

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“I know I speak for everyone at Ultimate Products in thanking Andrew and Simon for their exceptional endeavours, dedication and loyalty, and we are delighted that they will remain with the group as non-executive directors.”

Simon Harrison, incoming chief of UP, said: “Ultimate Products is a business with significant potential, based on a portfolio that includes some of the best-known brands in UK homeware, and supported by long-standing customer relationships and a scalable commercial model.

“I am delighted to be taking on the CEO role from Andrew Gossage, who alongside Simon Showman, has built and developed the business into the strong platform it is today. This represents an exciting personal opportunity for me, and I look forward to working with the board and the wider team to lead the business into what I am confident will be a bright future.”

Ultimate Products' CEO and co-founder Simon Showman and MD Andrew Gossage

Ultimate Products’ CEO and co-founder Simon Showman and current CEO Andrew Gossage(Image: Harry Page Images)

Andrew Gossage, outgoing chief executive, said: “Ultimate Products has been a hugely important part of my life for the past two decades, and I am enormously proud of the successful, diversified business we have built.

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“As CEO, part of my focus has been to ensure the business is well prepared for the future, including putting in place the right leadership, structure and succession plan to support its long-term development. With those strong foundations now established, this feels like the right time for me to step back from my day-to-day responsibilities and, after a short break, take on a non-executive director role with the group. I would like to thank colleagues past and present whose commitment has made my time at Ultimate Products so rewarding.”

Simon Showman, president and founder, added: “I am hugely excited about the next phase for Ultimate Products. The business has a strong executive team in place, with the ability to continue delivering the wide range of beautiful, more sustainable products we are known for.

“I am also delighted to welcome Simon Harrison to the business as our first external CEO. His FMCG leadership experience makes him ideally placed to build on the momentum we have created. I am also pleased to remain involved with the group as a non-executive director, and look forward to seeing our excellent team realise the substantial opportunity ahead.”

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NYT Connections No. 1096 Solved for June 11 2026 with Clever Category Themes

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Nancy Guthrie

NEW YORK — The New York Times Connections puzzle for Thursday, June 11, 2026, delivered its 1,096th edition with four increasingly challenging word groups that tested players’ associative thinking and cultural knowledge. The daily game, which groups 16 words into four themed categories of four, continues to attract millions of solvers seeking a stimulating mental break.

Connections, launched alongside Wordle in the Times’ games portfolio, has become a morning staple for many. Puzzle No. 1096 featured a balanced mix of straightforward and more obscure connections, earning praise for its clever construction while remaining accessible to regular players.

Today’s Solution and Categories

The four groups in Connections No. 1096 were:

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  • Yellow (Easiest): Music Genres — JAZZ, POP, ROCK, RAP
  • Green: Severe Weather Events — HURRICANE, TORNADO, BLIZZARD, TYPHOON
  • Blue: Famous Movie Directors — SPIELBERG, SCORSESE, NOLAN, TARANTINO
  • Purple (Hardest): Words That Can Precede “Apple” — BIG, CANDY, CARAMEL, PINE

Solvers who identified the music genres and weather events early gained momentum, while the purple category — requiring lateral thinking about compound phrases — proved the trickiest for many. The progression from yellow to purple followed the game’s standard difficulty curve, rewarding systematic elimination and creative associations.

How Players Approached the Puzzle

Most players began by scanning for obvious clusters. The yellow category of music genres was frequently spotted first, providing an accessible entry point. The green weather events group required noticing natural disaster terminology, which many associated through shared experiences or news exposure.

The blue category of renowned film directors tested pop culture knowledge, with players often connecting through cinematic history. The purple category demanded the biggest cognitive leap, linking words that form common phrases with “apple.”

Community forums noted the puzzle’s satisfying balance — challenging enough to feel rewarding but not frustratingly obscure. Average solve times hovered around 4-6 attempts, with many sharing colored grids on social media to compare results with friends.

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Game Mechanics and Popularity

Connections presents 16 words that must be sorted into four groups of four based on shared themes. Mistakes reduce available attempts, adding gentle pressure. The color-coded difficulty system — yellow easiest, purple hardest — helps players track progress and encourages strategic thinking.

Since its debut, the game has joined Wordle as a daily habit for puzzle enthusiasts. Its social aspect, with shareable results grids, builds community and friendly competition. The New York Times regularly refreshes its games portfolio based on player feedback while preserving the core appeal of clever wordplay.

Educational and Cognitive Benefits

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Educators and cognitive scientists highlight Connections’ value in enhancing pattern recognition, vocabulary, and flexible thinking. The June 11 puzzle touched on music, meteorology, cinema and idiomatic language, offering multifaceted mental stimulation suitable for various age groups.

The game’s accessibility — requiring only a web browser or app — contributes to its broad demographic reach. Many families and workplaces incorporate it into morning routines, fostering discussion and shared accomplishment.

Companion Puzzles and NYT Ecosystem

On the same day, players could tackle Wordle No. 1818 (solution: TESTY) alongside Connections, creating a complete morning puzzle suite. Other offerings like Spelling Bee, Mini Crossword and Letter Boxed provide additional challenges for enthusiasts seeking variety.

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The Times continues refining its games, incorporating seasonal themes and player-suggested improvements without disrupting the fundamental experience. Companion articles offer hints, discussions and post-solve analysis, deepening engagement for dedicated solvers.

Strategies for Success

Veteran players recommend starting with categories that have clear thematic anchors, such as lists of proper nouns or obvious synonyms. Tracking used words and considering multiple possible groupings helps avoid mistakes. For puzzles like No. 1096, paying attention to contextual overlaps — for instance, words with dual meanings in entertainment versus everyday language — proves valuable.

Community forums, including Reddit’s r/NYTConnections, provide spaces for sharing experiences. Discussions around the June 11 edition highlighted appreciation for the film directors category and initial confusion between certain weather and music terms.

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Looking Ahead in the Puzzle Calendar

As Connections approaches further milestones in its numbering, the Times maintains a steady release of fresh content. Future puzzles promise continued variety, drawing from pop culture, science, history and language nuances. Players can access archives to revisit past solutions or practice skills.

The enduring popularity of these games reflects a human desire for structured intellectual play in digital formats. Puzzle 1096 exemplified how seemingly disparate words reveal unexpected connections upon closer inspection, delivering the satisfying “aha” moment that defines the game.

Whether solved in one go or after several attempts, the June 11 Connections reinforced the game’s core appeal. As solvers move on to the next challenge, the daily ritual continues to unite participants in a shared linguistic adventure.

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Analysts observe that such puzzles contribute to cognitive health, offering low-stakes opportunities for problem-solving that translate to real-world benefits. In an era of information overload, the focused nature of Connections provides a welcome mental reset.

For those who missed today’s solution, tomorrow brings a new grid and fresh opportunities to test wits against the New York Times’ clever constructors. The blend of accessibility and depth ensures Connections remains a highlight in daily digital routines for enthusiasts around the globe.

The June 11 puzzle served as another strong example of the game’s ability to entertain and educate simultaneously. As the Connections community grows, players can look forward to increasingly inventive themes that challenge assumptions and reward curiosity in equal measure.

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Want to Avoid the Whipsawing Tech Stocks? Dollar General and 7 Others to Buy.

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Want to Avoid the Whipsawing Tech Stocks? Dollar General and 7 Others to Buy.

Want to Avoid the Whipsawing Tech Stocks? Dollar General and 7 Others to Buy.

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Private Credit Beyond Headlines: Why Diversification And Liquidity Matter More Than Ever

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Private Credit Beyond Headlines: Why Diversification And Liquidity Matter More Than Ever

Businessman hands stamp approve on financial business approval document paper. Man hand accepted permit contract agreement. Broker manager sign contract bank guarantee approved stamp application form

Thai Noipho/iStock via Getty Images

By Kevin Flanagan & Chris Acito

Private credit has become one of the fastest-growing areas of income investing. As investors search for attractive yields and alternative sources of return, attention has increasingly shifted toward direct lending, private

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AMG River Road Small-Mid Cap Value Fund Q1 2026 Commentary (ARSMX)

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AMG River Road Small-Mid Cap Value Fund Q1 2026 Commentary (ARSMX)

AMG is a strategic partner to, and long-term investor in, leading independent investment firms globally. We provide the advantages of partnership to magnify our Affiliates’ success, while preserving their autonomy and independence. We leverage our capabilities and insight, offering strategic, business development, operational, and capital support to our Affiliates, to create exceptional value for their clients and our shareholders. With AMG, Affiliates are able to expand their reach, diversify their business, and achieve further success.

When Affiliates choose AMG as a partner, they are choosing independence. Not only do our partners value their autonomy, their clients also recognize that an independent firm’s entrepreneurial and investment-centric culture is instrumental to generating differentiated long-term returns.

Having operated our distinct partnership model for 30 years, our entrepreneurial spirit, ownership mindset, and focus on excellence are deeply rooted. Note: This account is not managed or monitored by AMG, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use AMG’s official channels.

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Wipro’s Rs 15,000 crore buyback opens today: Analysts expect 7-8% returns for retail investors. Here’s how

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Wipro's Rs 15,000 crore buyback opens today: Analysts expect 7-8% returns for retail investors. Here's how
The much-awaited buyback worth Rs 15,000 crore of Wipro opened on Thursday. The IT major is set to buy back up to 60 shares from eligible shareholders at Rs 250 per share, which is around 40% higher than the current market price.

Wipro’s buyback will remain open from June 10 to June 17 during which the company will buy back up to 5.7% of its total paid-up share capital. The record date for the buyback was fixed on June 5, which means that only those shareholders who owned shares of the company on that day would be eligible to tender shares in the offer, and investors taking fresh positions today will not qualify.

Key things to know about Wipro’s buyback

Under Wipro’s buyback offer, eligible shareholders in the reserved category for small shareholders are entitled to tender 11 equity shares for every 56 equity shares held as on the record date (June 5). For shareholders falling under the general category, the buyback entitlement has been fixed at 10 equity shares for every 197 equity shares held on the record date.

Buyback of shares refers to a corporate action where a company repurchases its own shares from the existing shareholders. Usually, the company purchases the shares at a higher price than the current levels, encouraging investors to participate. Notably, Wipro has said that its promoters and promoter groups have indicated their intention to participate in the buyback. They can tender a maximum of 745 crore shares.

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How can you participate in Wipro buyback?

Wipro shareholders can participate in the share buyback by placing a bid through a stock broker registered either with the BSE or the NSE via a separate window that would open up on the stock exchanges. The registrar will complete the verification of tendered shares by June 19, 2026. Thereafter, the final acceptance or rejection of shares tendered under the buyback will be communicated to the stock exchanges by June 23. The payment will be made to the eligible shareholders by June 24.

After the buyback, Wipro will return the unaccepted shares by June 24, as per the schedule shared by the IT giant in its exchange filing. “Eligible Shareholders must ensure that their demat account(s) is active and unblocked for receipt of unaccepted shares and that their bank account is linked with their demat account for credit of remittance on acceptance of equity shares under the buyback,” the company said.

How much profit can retail investors make from Wipro buyback?

Let’s take an investor who bought 1,008 shares of Wipro at Rs 198 apiece before the record date and is planning to tender shares in the buyback for example. The total value of her shares as on the record date stood at Rs 1,99,584, making her eligible for Wipro’s reserved category for small shareholders (less than Rs 2 lakh).

As per the entitlement ratio, she will be entitled to tender 198 shares out of her 1,008 stock holding (11 equity shares for every 56 equity shares held as on the record date). It is important to note that not all shares she tenders may be accepted in the buyback process.

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However, for the shares accepted as part of the buyback, she will earn Rs 52 per share at the buyback price of Rs 250 per share, much higher than what she would have made if she sold the shares at the current market price of less than Rs 180.

Analysts on Wipro buyback

Sunny Agrawal, Head of Fundamental Research at SBI Securities, said that any retail investor holding shares within the small shareholder category (total value of shareholding below Rs 2 lakh as on the record date) should tender all her shares in the buyback.
“A retail investor holding up to 1,008 shares as on the record date will be eligible to tender around 212 shares (assuming an acceptance ratio of approximately 21% versus an entitlement ratio of 19.7%) at the buyback price of Rs 250, implying a gain of around Rs 70 per share over the current market price,” the analyst explained.Based on this calculation, the investor can earn a potential profit of around Rs 14,800, implying a 7.4% return on a total portfolio of Rs 2 lakh, Agrawal said. “While this is beneficial, the absolute return remains moderate rather than highly attractive,” he added. This is a good option for investors who acquired shares at Rs 198 or higher (as per the buyback document, on the record date, the closing price on NSE was Rs 198.37), according to the analyst.

Also Read | Should retail investors tender shares in Wipro’s buyback?

Harshal Dasani, Business Head at INVasset PMS, also said that existing eligible retail shareholders tendering shares in the buyback seem to be rational as the accepted portion can be sold back at a fixed premium.

If we assume Wipro’s market price at around Rs 181 apiece, the spread will roughly be Rs 69 per accepted share before tax and costs, Dasani explained, adding that on the entitlement alone, about 19 to 20 shares out of every 100 may get accepted, though the final acceptance can be higher depending on participation.

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Narendra Solanki, Head of Fundamental Research of Investment Services at Anand Rathi Shares and Stock Brokers, calculated that retail or reserved category investors who are holding Wipro shares less than Rs 2 lakh as on the record date will likely have an acceptance ratio of 20%, and may earn a profit of approximately 7.7%.

What is the real risk?

The real risk is the unaccepted portion of shares, Dasani cautioned. If the stock weakens after the buyback, especially in a bearish IT and broader market setup, the residual holding can dilute the apparent arbitrage return, he explained.

“So this is a tactical buyback opportunity, not a reason to become structurally positive on Wipro or Nifty IT,” Dasani cautioned.

Also Read | 10 key things to know before tendering shares in Wipro’s Rs 15,000 crore buyback

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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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FS.COM shares jump over 10% after buyback plan announcement

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FS.COM shares jump over 10% after buyback plan announcement

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Honasa shares jump 6% on Rs 5,500 crore revenue target by FY31. What is Goldman Sachs saying?

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Honasa shares jump 6% on Rs 5,500 crore revenue target by FY31. What is Goldman Sachs saying?
Shares of Honasa Consumer, the parent company of Mamaearth, rallied 6% to their day’s high of Rs 438 on the BSE as investors cheered the company’s revenue target of Rs 5,500 by the financial year 2031.

The company’s revenue outlook implies a CAGR of about 18% between FY26 and FY31. Mamaearth is expected to remain the key growth driver, with revenue crossing Rs 2,000 crore by FY31, while The Derma Co is projected to contribute nearly Rs 1,500 crore during the same period.

Further, the company plans at least two more Rs 500 crore revenue-generating brands across the portfolio, it said in an investor presentation. It owns brands such as Aqualoga, BBlunt, Dr Sheth’s, and Reginald Men.

Honasa plans to expand EBITDA margins to 15% by unlocking a 500-basis-point improvement through a stronger presence in higher-margin channels and categories, alongside benefits from scale and operating efficiencies.

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The company’s direct outlet network is targeted to grow from around 1.2 lakh outlets currently to 3 lakh outlets by FY31. A greater mix of general trade, modern trade, and quick commerce is also expected to support margin expansion.


Honasa aims to become the national market leader in at least two skincare categories, while securing a top-three market share position in at least two additional categories.
Following the development, Goldman Sachs raised the target price of Rs 400, which the company has already surpassed. The international brokerage has maintained a Neutral rating on the counter.
Reflecting faster profitability improvement, the brokerage has raised its FY27-FY29 earnings estimates by 1-4%. However, Goldman Sachs believes the stock’s risk-reward remains balanced at current valuations.

Honasa Q4 snapshot

The company reported a whopping 177% year-on-year (YoY) jump in consolidated net profit to Rs 69 crore for the fourth quarter of the financial year 2026, from Rs 25 crore in the year-ago period.
Honasa’s revenue from operations, meanwhile, jumped over 23% YoY to Rs 657 crore during Q4 of FY26, compared to the Rs 533 crore revenue reported in the corresponding quarter of FY25.

Honasa shares have risen 64% in the last six months and about 50% in 2026.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Parents find lifeline in 50p kids' clothes shop

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Parents find lifeline in 50p kids' clothes shop

A second-hand shop selling cheap baby clothes sees rising demand as families cut costs.

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Applied Digital Signs $5.2 Billion Lease With Mystery Hyperscaler. The Stock Falls.

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Applied Digital Signs $5.2 Billion Lease With Mystery Hyperscaler. The Stock Falls.

Applied Digital Signs $5.2 Billion Lease With Mystery Hyperscaler. The Stock Falls.

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Why is JD.com stock sliding today?

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