Roper quits Melrose

ONE of the founders of Melrose Industries has announced he will retire from the buyout group next May.

David Roper, who turns 70 next year, is executive vice- chairman and served as chief executive between 2003 and 2012. He helped oversee its hostile takeover of British engineering giant GKN in an £8bn deal last year.

The firm faced a minirebellion at its AGM yesterday when 12pc of shareholders opposed the pay packets handed to executives – although this was down from 20pc last year when Melrose’s top four executives were each handed £42m.