THE WHAT? Founder and CEO of THG, Matthew Moulding has surrendered his ‘golden share’ – a mechanism allowing him to block takeover attempts, according to a report published by The Guardian.

THE DETAILS The transfer has been delayed by several months; in October 2021, Moulding committed to giving up this power over the course of 2022. The share will now be cancelled by the company.

THE WHY? It’s likely that Moulding’s somewhat belated renunciation of this special clout comes as the owner of Glossybox and LookFantastic forecasts an uptick in profits for the first half. Recent talks with Apollo fell apart on the back of the private equity firm’s ‘inadequate valuations’. It’s not exactly a leap to suggest that a bounce back in sales and profit will help THG command a higher price in any future negotiations.