Archie Norman: Difference between revisions
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'''Archibald John Norman''' (born 1 May 1954) is a [[United Kingdom|British]] [[businessman]] and [[politician]]. He is presently the only [[FTSE 100]] chairman to have sat in the [[House of Commons of the United Kingdom|House of Commons]].<ref name="ManTod1" |
'''Archibald John Norman''' (born 1 May 1954) is a [[United Kingdom|British]] [[businessman]] and [[politician]]. He is presently the only [[FTSE 100]] chairman to have sat in the [[House of Commons of the United Kingdom|House of Commons]].<ref name="ManTod1"/> |
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==Biography== |
==Biography== |
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The second of five children of two doctors,<ref name="ManTod1">{{citeweb|url=http://www.managementtoday.co.uk/channel/Leadership/news/735030/exclusive-mt-interview-archie-norman/|title=Exclusive MT interview: Archie Norman|publisher=Management Today|date=3 September 2007|accessdate=2008-04-06}}</ref> Norman was educated at [[Charterhouse School]], the [[University of Minnesota]], [[Emmanuel College, Cambridge]], and after a short period at [[Citigroup]] a [[Masters in Business Administration]] (MBA) from [[Harvard Business School]].<ref>{{citeweb|url=http://news.bbc.co.uk/1/hi/uk_politics/5130300.stm|title=If anyone understands the perils of modernising the Conservative Party it is Archie Norman|publisher=BBC News|date=14 July 2006|accessdate=2008-04-06}}</ref> |
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The second of five children of two doctors, Archie Norman was educated at Charterhouse School, has an MA from Cambridge University and an MBA from Harvard Business School. He is married with one daughter and his interests include farming, opera, fishing and tennis. |
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===Business career=== |
===Business career=== |
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Norman joined [[McKinsey & Company]] on graduation, where [[William Hague]] was one of his protégés.<ref name="Guard1">{{citeweb|url=http://www.guardian.co.uk/politics/2001/mar/20/profiles.parliament|title=Archie Norman|publisher=The Guardian|date=March 20 2001|accessdate=2008-04-06}}</ref> He then held directorships at [[Geest]] and [[Railtrack]], before becoming group finance director at then Britain's largest retailer, [[Kingfisher plc]] at 32. Within five years, he was group chief executive and by 42 he was chairman, earning £3 million a year.<ref name="Guard1"/> |
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Tired of waiting for the retirement of [[Geoffrey Mulcahy|Sir Geoffrey Mulcahy]], he applied for and gained the [[Chief Executive]]'s position at [[Asda]] - the only applicant for a near [[bankrupt]] business.<ref name="Guard2">{{citeweb|url=http://www.guardian.co.uk/business/2006/jun/11/theobserver.observerbusiness3|title=Norman to the rescue - again|publisher=The Guardian|date=June 11, 2006|accessdate=2008-04-06}}</ref> From 1991 until 2000, Norman was [[Chief Executive]] and then [[Chairman]] of Asda, the large supermarket chain, and with cohort [[Allan Leighton]] is credited with turning it around and making it the second largest in the UK, before its sale to [[Wal-Mart]] in June 1999. |
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Formerly the youngest partner of McKinseys, Archie was a member of a three strong team that established and built Kingfisher plc in the 1980s to become Britain's leading general merchandise retailer. In 1991, at the age of 37, he moved to ASDA to lead the turnaround as Chairman. Over the subsequent eight years the business was transformed into the second largest supermarket group before being sold to Wal-Mart for an eight times multiple of the starting share price. Latterly, Archie acquired Energis, Britain's third largest telecoms business, on behalf of the creditor banks and over three years refocused and rebuilt the business before agreeing a sale to Cable and Wireless for double the original enterprise value. |
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Archie is well known for having recruited and developed over fifteen executives who have gone on to hold leading positions in top companies, including Allan Leighton of Loblaws, Justin King of J Sainsburys, John Pluthero of Cable and Wireless and Andy Hornby of Boots. |
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In November 2003 Archie Norman was appointed as Senior Advisor to Lazard. In November 2007 he was appointed Deputy Chairman of Coles Group, the second largest retailer in Australia, and has played a leading role in setting the strategy and recruiting the team for potentially the largest turnaround project in global food retailing. |
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Archie has set up a management partnership, Aurigo Management Partners, which seeks to work with underperforming, distressed or unfashionable businesses which are capable to responding to the management intensive approach. In June 2007 Aurigo acquired HSS, the UK's second largest equipment hire business. |
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===Political career=== |
===Political career=== |
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Having helped form the [[think tank]] [[Policy Exchange]], in 1996 on the advice of [[Francis Maude]], Norman decided to apply for the [[Conservative Party (UK)|Conservative]]-safe seat of Tunbridge Wells, soon to be vacated by [[Patrick Mayhew|Sir Patrick Mayhew]]. Norman was elected as Conservative [[Member of Parliament]] for [[Tunbridge Wells (UK Parliament constituency)|Tunbridge Wells]] in [[England]], in the [[United Kingdom general election, 1997|1997 general election]], but with a halved majority of 7,506. |
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After the heavy defeat in the 1997 election, Norman supported William Hague's bid for leadership, becoming Party Chairman and then serving as a [[Shadow Minister|shadow minister]] for the environment from 1999 until 2001. Norman's promotion to the Tory frontbench as shadow environment secretary in 2000 was not a success, seen as stumbling and inarticulate, though undoubtedly bright: "Just because Asda checkout girls smile at him, he thinks he's got the common touch," joked [[Cecil Parkinson|Lord Parkinson]].<ref name="Guard1"/> |
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Archie was the first Chairman of a FTSE 100 company to serve in the House of Commons where he became Chief Executive of the Conservative Party, leading the Party reform process, which led to the first democratic constitution of the Party. Subsequently he became a leading member of the Shadow Cabinet as the opposite number to the Deputy Prime Minister. Archie was a leading conservative reformer throughout his time in politics. Subsequently he founded the well known think tank 'Policy Exchange'. |
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Although he survived the reshuffle after the failure of Hague, his long term intentions were clear when in 2002 he joined [[Energis]] as [[Chairman]] having led a consortium of banks in the purchase and refinance of the UK arm from the administrators of Energis Plc. He stood down as MP at the [[United Kingdom general election, 2005|May 2005 general election]]. |
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'''Other''' |
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===Return to business=== |
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Archie has served as a non executive director on the Board of a number of companies, including British Rail, Railtrack and Geest. He is on the Board of Governors at the NIESR, has an Honorary Degree from Leeds Metropolitan University, was a Director of the Judge Institute, has been elected to the Marketing Society Hall of Fame, and been voted Retailer of the Year and Yorkshire Businessman of the Year. |
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Norman now runs Aurigo Management, a private equity firm primarily focussed on the retail/consumer space. Key executives include Paul Sagoo, his colleague from Energis. In July 2007, after failed bids for fitness chain [[Esporta]] and mobile phone retailer [[Phones 4U]], Aurigo bought tool hire retailer [[HSS Hire]] for £310million, from [[3i]].<ref>{{citeweb|url=http://business.timesonline.co.uk/tol/business/industry_sectors/support_services/article1926316.ece|title=Archie Norman agrees to buy HSS for £310 million|publisher=The Times|date=June 13, 2007|accessdate=2008-04-06}}</ref> |
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===Personal life=== |
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Married with one daughter, he has homes in [[Yorkshire]], [[London]] and [[Switzerland]] - infamously buying only a [[pied-à-terre]] in Tunbridge Wells while MP. His interests include farming, opera, music, fishing, skiing and tennis.<ref name="Guard2"/> |
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==References== |
==References== |
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Revision as of 12:18, 2 August 2009
Archibald John Norman | |
|---|---|
| Born | May 1, 1954 |
| Nationality | British |
| Education | Charterhouse School University of Minnesota Emmanuel College, Cambridge Harvard Business School |
| Known for | Kingfisher plc Asda MP for Tunbridge Wells |
| Spouse | Married |
| Children | 1 daughter |
Archibald John Norman (born 1 May 1954) is a British businessman and politician. He is presently the only FTSE 100 chairman to have sat in the House of Commons.[1]
Biography
The second of five children of two doctors,[1] Norman was educated at Charterhouse School, the University of Minnesota, Emmanuel College, Cambridge, and after a short period at Citigroup a Masters in Business Administration (MBA) from Harvard Business School.[2]
Business career
Norman joined McKinsey & Company on graduation, where William Hague was one of his protégés.[3] He then held directorships at Geest and Railtrack, before becoming group finance director at then Britain's largest retailer, Kingfisher plc at 32. Within five years, he was group chief executive and by 42 he was chairman, earning £3 million a year.[3]
Tired of waiting for the retirement of Sir Geoffrey Mulcahy, he applied for and gained the Chief Executive's position at Asda - the only applicant for a near bankrupt business.[4] From 1991 until 2000, Norman was Chief Executive and then Chairman of Asda, the large supermarket chain, and with cohort Allan Leighton is credited with turning it around and making it the second largest in the UK, before its sale to Wal-Mart in June 1999.
Political career
Having helped form the think tank Policy Exchange, in 1996 on the advice of Francis Maude, Norman decided to apply for the Conservative-safe seat of Tunbridge Wells, soon to be vacated by Sir Patrick Mayhew. Norman was elected as Conservative Member of Parliament for Tunbridge Wells in England, in the 1997 general election, but with a halved majority of 7,506.
After the heavy defeat in the 1997 election, Norman supported William Hague's bid for leadership, becoming Party Chairman and then serving as a shadow minister for the environment from 1999 until 2001. Norman's promotion to the Tory frontbench as shadow environment secretary in 2000 was not a success, seen as stumbling and inarticulate, though undoubtedly bright: "Just because Asda checkout girls smile at him, he thinks he's got the common touch," joked Lord Parkinson.[3]
Although he survived the reshuffle after the failure of Hague, his long term intentions were clear when in 2002 he joined Energis as Chairman having led a consortium of banks in the purchase and refinance of the UK arm from the administrators of Energis Plc. He stood down as MP at the May 2005 general election.
Return to business
Norman now runs Aurigo Management, a private equity firm primarily focussed on the retail/consumer space. Key executives include Paul Sagoo, his colleague from Energis. In July 2007, after failed bids for fitness chain Esporta and mobile phone retailer Phones 4U, Aurigo bought tool hire retailer HSS Hire for £310million, from 3i.[5]
Personal life
Married with one daughter, he has homes in Yorkshire, London and Switzerland - infamously buying only a pied-à-terre in Tunbridge Wells while MP. His interests include farming, opera, music, fishing, skiing and tennis.[4]
References
- ^ a b "Exclusive MT interview: Archie Norman". Management Today. 3 September 2007. Retrieved 2008-04-06.
- ^ "If anyone understands the perils of modernising the Conservative Party it is Archie Norman". BBC News. 14 July 2006. Retrieved 2008-04-06.
- ^ a b c "Archie Norman". The Guardian. March 20 2001. Retrieved 2008-04-06.
{{cite web}}: Check date values in:|date=(help) - ^ a b "Norman to the rescue - again". The Guardian. June 11, 2006. Retrieved 2008-04-06.
- ^ "Archie Norman agrees to buy HSS for £310 million". The Times. June 13, 2007. Retrieved 2008-04-06.