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Davis poured millions of pounds into buying leisure industries, hotels and real estate, the last of which saddled Rank with a $380 million development program at the moment the bottom fell out of the British real estate market in 1973. He also angered American shareholders by making an abortive bid to buy a British brewing company, Watney Mann, without telling them about it. Having no other way to protest, the Americans began selling their stock; they were annoyed not only because they were not consulted on a major corporate move but also because Davis' heavy borrowings for expansion were diluting profits. Last year, for example, Rank earnings of $44.2 million were almost eaten up by $44 million in interest charges. Still, no Rank executives challenged Davis, for understandable reasons. "He has a nasty way of dressing down senior as well as junior executives on the most trifling matters in front of a large audience," recalls one former subordinate.
Enter Dowson, a onetime R. A.F. pilot, Tupelo, Miss, disk jockey and Davis protege, whom Sir John last October promoted from deputy chief to chief executive. Dowson rapidly concluded he would never have real authority as long as Sir John was around. Finding himself unable to challenge Davis in a boardroom battle, he apparently decided to opt for a lucrative early retirement by taking on Sir John in a bedroom farce.
Dowson for twelve years had been living with his secretary, Pamela Awbery, 43. In July he took out a license to marry her in September—but now Dowson ungallantly insists that "Sir John talked me into it. He said I had to do it for the company image." Davis had another interest: Awbery is a close friend of his own mistress, Felicity Rutland, a 37-year-old who was Britain's debutante of the year in 1956. A mere two weeks before he was supposed to marry Awbery, Dowson stole away to marry instead a mysterious 26-year-old beauty, Denise Shurman, in a "secret" ceremony —reports of which, however, promptly appeared in the press. An enraged Davis, already annoyed at Dowson for his corporate performance, told him he would have to go.
Dowson got out with over $300,000 in severance pay and one further worry: Pamela Awbery asserts she wants some of it. Says Dowson, rather waspishly, "It is a pity that the issue of wives and mistresses ever came into it because Sir John's record with women is appalling. As far as I know none of his ex-wives or girl friends have many kind things to say about him. If all my previous wives were around, I am sure they would still be rooting forme."