Companies: BAE   

Arsenal football club’s former managing director Keith Edelman has been appointed as new non-executive director of department store Beales.

Edelman, who has also served as chief executive of BHS and Mothercare’s former owner Storehouse, as well as holding a number of non-executive appointments including at whiskey producers Glenmorangie and Eurotunnel, led the North London football club to a new home at the Emirates Stadium and to record profits.

At Arsenal he also battled with the apparently aggressive intentions of billionaire shareholders, Uzbeki oligarch Alisher Usmanov and American sports tycoon Stan Kroenke.

Beale has recently received a tender offer for just over a fifth of the company from activist property entrepreneur Andrew Perloff. It is speculated in the City Perloff is more attracted by Beale’s portfolio of 11 stores situated on the south coast.

Since Perloff’s offer was rejected by Beale, the shares climbed to 40p but have now dipped back to 36.50p. Analyst estimates value Beales assets at more than 100p a share – nearly three times the current share price.

Edelman replaces Alison Richards, who died last year, as an independent non-executive director.

Beale	LSE	£7.49m	36.50p	1.50p
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