John Ashcroft was appointed chief executive of pro.Manchester, an advisory group for the financial and professional communities in the northwest, last October. After studying at the London School of Economics, Ashcroft joined the graduate trainee scheme of Tube Investments. He became one of the leading businessmen of the 1980s. As chairman of Coloroll, Ashcroft led a spectacular acquisition spree that culminated in the equally spectacular collapse of the home decor company in 1990, shortly after he was appointed CBE. Ashcroft, 61, then took a PhD in economics at Manchester Metropolitan University. He spoke to Andrew Lynch.
When did you first become a boss and how did it feel?
When I joined Coloroll in 1978. Within a year I became managing director, aged 29, and was looking after a company that we grew from £6m to something like £600m in 12 years. Our principal unions in the manufacturing business were the NGA and Sogat, the Fleet Street unions, so I had a pretty steep learning curve about managing unions. I always wanted to be in industry, running a company by the time I was 30, being chairman of a plc by my late-30s.
What have you learnt about leadership and how has your style evolved?
It’s important to be open, honest and truthful in dealings with people at every level. Building a team is a priority, a strong team that shares the same goals and vision. I have been chief executive and chairman of a large organisation where you have to be terribly focused and have a strong leadership role. In this organisation, we have 20 members on the board so the chief executive is more like the Malcolm Tucker figure, trying to make sure the board doesn’t overload the executive team and that its needs and ambitions are met.
Have you been inspired by any one person or theory in the way you manage?
I was inspired by people like Jim Slater and John Bentley in the early 1970s. In the 1980s I got close to people like Lord Hanson, Lord Laing and Lord King. It was very inspiring. We had a 1980s bratpack which included myself, Richard Branson, Gerald Ratner, Greg Hutchings, Nigel Rudd and Martin Sorrell. Ralph Halpern was a good friend. We had amicable rivalries and not so amicable rivalries.
What’s the worst part of managing — and the best?
The best part is building the team and creating the environment in which everyone can flourish. The worst part is confronting failure and the occasional dalliance with mendacity and disloyalty.
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What do you look for when hiring senior staff?
Honesty, integrity and enthusiasm.
What’s the best career advice?
Have a clear goal and be prepared to chase it whatever the setbacks may be.
Is there one question you want answered in job interviews?
What is the cost of the package? What will it cost to put someone in place?
Managers or MBAs?
A good MBA provides a useful toolbox and a good basic skills set, but it’s the individual who’s got to act wisely and expediently.