[3] He was executive chairman of the shipping line P&O from 1983 to 2005, having joined the board as a non-executive director on 6 February 1980, and is now Life President of P&O Cruises.

In 2002 he served as chairman of the Golden Jubilee Weekend Trust, in commemoration of The Queen's reign of 50 years as sovereign.

In April 2007 he brokered a deal with Roger Allard's All Leisure Holidays, operator of cruise company Voyages of Discovery, to purchase the brand Swan Hellenic.

[5] As part of Margaret Thatcher's resignation honours, he was created a life peer as Baron Sterling of Plaistow, of Pall Mall in the City of Westminster on 17 January 1991.

[10] He was appointed Knight Grand Cross of the Royal Victorian Order (GCVO) in August 2002 in a supplement to that year's Birthday Honours list in recognition of his services in connection with the Queen's Golden Jubilee.