The X friend: Philip Green forced out of Simon Cowell’s firm
Strained relations a factor in music mogul buying out tycoon’s shares
SIR PHILIP GREEN has been forced out of Simon Cowell’s entertainment business in the wake of the scandal surrounding the Topshop tycoon over his use of non-disclosure agreements.
Simon Cowell is believed to have spent £10million buying out Sir Philip’s shares in his company, Syco Entertainment.
The X Factor judge has bought out the five per cent Sir Philip held in Syco Entertainment, The Daily Mirror reported.
The Daily Telegraph revealed that the businessman had used non-disclosure agreements and paid out “substantial sums” to silence former employees over sexual harassment, racial abuse, bullying and intimidation allegations.
The Telegraph has been issued with an injunction which means it cannot publish any of the details of these cases or the exact amounts paid out.
Sir Philip was recently named in Parliament by Lord Hain as the businessman behind the non-disclosure agreements.
This week a former Topshop manager accused the businessman of sexual harassment.
Auna Irvine, who ran one of the billionaire’s flagship shops in America, became the first woman to publicly accuse Sir Philip of repeatedly grabbing her by the waist and slapping her bottom, making regular comments about her breasts and telling her that she needed to lose weight.
The retail mogul also faces harassment claims from three more women in the US.
A woman who worked at the Las Vegas Topshop store said she endured unwanted touching from Sir Philip and he would often make comments about her weight.
His behaviour made her feel increasingly uncomfortable and humiliated, she said.
“He would just grab you and kiss you on the lips in front of people, and you’re just like ‘holy f***, what .. just happened?’”, she said.
Sir Philip has “categorically and wholly” denied any “unlawful sexual or racist behaviour”. He said he had only engaged in “banter” with his staff.
It was recently reported that Mr Cowell was trying to force Sir Philip out of Syco Entertainment but he was refusing to leave.
Syco Entertainment is Simon Cowell’s joint venture with Sony Music. Founded in 2003 the company created The X Factor and its music division includes pop groups One Direction and Little Mix.
The two multimillionaires have been pictured together on numerous occasions, including on holiday, and it was reported in 2009 they were considering setting up an international entertainment company together.
But their friendship reportedly became strained before the collapse of British Home Stores in 2016 which left a £571million hole in the company’s pension pot.
Sir Philip was criticised for selling his stake in BHS for £1 to former racing car driver Dominic Chappell.
Last tango? Dancer Amy Dowden has denied she ever “felt threatened or bullied”by Strictly Come Dancing starDanny John-jules. But she admitted on yesterday’s It Takes Two that things did get “a little intense” this week. The Red Dwarf actor had earlier suggested that he is being portrayed as evil “King Kong” by the media.
The ‘X Factor’ judge Simon Cowell has cut ties with former friend Sir Philip Green