Page 12 - Stakis C Case Study

been a team effort working on fundamentally good
material"

Of his relationship with the other members of his board
Michels commented:

"It is a team effort. I have a good relationship with

him (Sir Lewis), he can be difficult, but he held my

hand. He has no interest in running a business. He

runs the board - and he does! I had never run a

business as chief executive before and never

spoken to Bankers in such numbers. He got them

in order. There were 54 at the first Bankers

meeting. Neil Chisman has guided me on finance. I

had no first hand experience of dealing with

brokers. I do now! I ask, ask and ask and want
people to explain, explain and explain. I have tried

to encourage this approach in the organisation -

put your hand up when you don't understand.

That's what I do.

The non-executives are tough guys. At the board I

present my case. I sometimes think they are wrong

but in the end consensus is reached".

The recovery was further emphasised with the purchase of

three Midlands casinos for £10.5 million bringing their

casino portfolio to 21. The company also has plans to build