Former Chancellor Nadhim Zahawi appointed chairman of Very Group after stepping down as MP

Nadhim Zahawi, a former Chancellor and Member of Parliament, has been chosen as the new chairman of the Very Group, which includes the Very and Littlewoods brands. He will replace Aidan Barclay as the chairman. Zahawi, who has been an MP since 2010, will join the board of the company. Before his political career, Zahawi co-founded and led a market research organization called YouGov. During his time there, the company grew in the Middle East and the US and was listed on the London Stock Exchange. Zahawi also briefly served as Chancellor of the Exchequer and played a role in the Covid Vaccine Deployment as a minister during the pandemic. Aidan Barclay praised Zahawi's experience in digital growth and innovation, stating that he is well-suited to lead the company's strategic development and growth. The Barclay family recently secured £125 million in funding for Very Group from private equity firms in the US and the United Arab Emirates. Zahawi faced criticism for not being transparent about his tax settlement in the past. He was dismissed as Conservative Party chairman for breaking ministerial rules. Despite this, he has been approved to take on the role of chairman at Very Group by the Advisory Committee on Business Appointments. Zahawi will not be allowed to lobby the government until 2025. As the new chairman of Very Group, Zahawi will focus on increasing sales and profits and exploring new business opportunities. The company, based in Liverpool, has faced financial challenges and recently received funding to support its operations. Zahawi's appointment comes at a time of change for Very Group, as it seeks to navigate its debts and secure its future in the retail market.