While the name Courtaulds disappeared in the chemical merger with Akzo Nobel, the Courtaulds textile name remains as a division in Sara Lee. However, to survive it again had to slash jobs and axed many of its factories as it grappled with the high costs of manufacturing in the UK and M&S, under Stuart Rose, continuing to squeeze its suppliers. In February 2005, Brenda C. Barnes became the chairman and CEO of Sara Lee – and had a far more focussed strategy. Courtaulds was seen as basically a British-based brand and company, and did not fit with a global business. Barnes agreed sale of the business was right, and for some time tried to sell the Courtaulds business, which had a turnover in 2005 of $560m (£302m), but was hampered by Courtaulds' pension deficit. It was eventually agreed with the UK pension regulator to increase payments into the deficit from £20m to £32m a year until 2015. In May 2006, Sara Lee announced the sale of Courtaulds Textiles to PD Enterprise Limited, a major supplier of clothing to Courtaulds Textiles. No sale price was announced, but it was announced that Sara Lee would continue to hold the $483 million (£260 million) pension deficit, and Brenda Barnes commented that Sara Lee had effectively "given away" the unit.