Summary:

Forty years after founding the company, Apprentice lynchpin Sir Alan Sugar is stepping down as chairman of his Amstrad company after complet…

imageForty years after founding the company, Apprentice lynchpin Sir Alan Sugar is stepping down as chairman of his Amstrad company after completing the task of selling it to BSkyB (NYSE: BSY) last year. After starting with hi-fis in the 70s and computers in the 80s, Amstrad turned to making pay-TV set-top boxes in the 90s. BSkyB became its biggest client, accounting for three quarters of its business in that area, including making the Sky+ PVR.

So much so that BSkyB bought Amstrad for £125 million in July 2007, to take its STB supply in-house, giving Sugar, 61, £34.8m in return for his stake. Sugar will now concentrate on his property businesses and will remain with his Viglen computer maker. There’s no room for sentiment in Sir Alan’s world – a biography link on his company’s website is already producing a 404 error.

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