Johnson "does not rule out" Phaidon stake

<p>Former Borders financier Luke Johnson has not ruled out investing in Phaidon Press after he joined the business as a non-executive director.</p><p>Two weeks ago, it was revealed Johnson was joining the illustrated publisher along with former HarperCollins m.d. Amanda Ridout, who has been appointed m.d.</p><p>In an interview with <em>The Bookseller</em>, Johnson said: &quot;I met up with [owner] Richard Schlagman and I liked him very much. I guess he wanted someone to whom he could go for advice and someone with a bit of experience in the bookselling world.&quot; Johnson added that he &quot;very much likes Phaidon&rsquo;s output&quot; with its focus on books with high production values on an international scale. </p><p>He said his role would be acting as a &quot;classic&quot; non-executive director, who will offer an &quot;external perspective on the industry and how the business is run. I know quite a lot about the book world and the financial runnings of it,&quot; he added. Johnson said he has not currently invested any of his own money in the business, but future investment had not been &quot;ruled out&quot;.</p><p>Johnson&rsquo;s Risk Capital Partners investment firm bought Borders in September 2007 and owned it until former chief executive Philip Downer led a management buyout in July 2009. The private equity firm has also invested in restaurant chain Giraffe, womenswear chain East and Tile Depot.</p>