Making sense of the past seven days
Tony Page, Asda's non-food supremo, was in Paris on Wednesday night to watch the showdown between Arsenal and Barca.

His team lost, but Page himself managed to prompt some celebrations back in London - on Marylebone Road, rather than at Highbury. He is joining variety store group Woolworths in the newly created role of managing director, commercial and marketing.

Woolies' ability to lure Page away from Wal-Mart's UK division represents a real triumph. No doubt the store group will be rewarding him mightily for making the move, but has every reason to believe the cash will be worthwhile.

Most retail directors, even those right at the top, don't trouser the sort of wages that some of the big stars of the field of dreams pocket in a week, but the race to spot, nab and retain talent is every bit as competitive as the big European leagues.

As we report in this week's issue, there is huge churn in retail boardrooms at the moment. In the past week, a host of directors have retired or left for other reasons.

Some, like former Next chairman David Jones and Jessops chief executive Derek Hine, are finally calling it a day after lifetimes in retail. Others are on the hunt for the proverbial new opportunities, or fancy spending more time with their families.

It prompts the question: who are the rising stars of this generation and the next? There's little doubt that Page is one. His capabilities should mean that Woolies group chief executive Trevor Bish-Jones can spend more time developing and driving strategy, safe in the knowledge that the core business is safe in Page's hands.

Many other store chiefs want to be in exactly that position, and the hunt for key lieutenants is only likely to intensify. Where do you find the rising stars? How do you keep them? What rewards should they receive?

Retail has always been about the right product in the right place at the right price. More than ever, all that is dependent on the right people.

Maybe the big private equity deals aren't over just yet. MFI revealed this morning that there have been expressions of interest in all or part of its retail businesses from a number of third parties. Trade buyers as well as VCs are thought to be circling.

MFI's share price has climbed by more than 30 per cent in the past three months and investors will be whooping with delight that there may be a bid premium in there too. Once more, it provides an instance of a business that has failed under incumbent management - not Matthew Ingle, who has only been chief executive for a few months, but his predecessors.

The furniture, home and DIY markets have been under pressure for more than a year now but, once again, it's also a story about people - in this case, the consequences of handing leadership of a business to the wrong ones.