Difference between revisions of "Archie Norman"
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| − | '''Archibald John Norman''' (born 1 May 1954), known as '''Archie Norman''', is a businessman and former Conservative politician. He is a co-founder of [[Policy Exchange]] and its now defunct sister organisation [[CChange]]. | + | '''Archibald John Norman''' (born 1 May 1954), known as '''Archie Norman''', is a businessman and former Conservative politician. He is best known for what ''Management Today'' calls his 'legendary years' at [[Asda]] during the 1990s when he cut 5,000 jobs and created enormous profits and growth for the company. It was later sold to [[Walmart]] for £6.5 billion, giving shareholders a 1,000 per cent return. <ref>Chris Blackhurst, '[http://www.managementtoday.co.uk/channel/Leadership/news/735030/exclusive-mt-interview-archie-norman/ Exclusive MT interview: Archie Norman]', ''Management Today'', 3 September 2007.</ref> He is a co-founder of [[Policy Exchange]] and its now defunct sister organisation [[CChange]] and is currently Chairman of [[ITV]]. |
==Education and business career== | ==Education and business career== | ||
| − | Norman attended Emmanuel College, Cambridge, where he studied economics. After graduating in 1975 he joined [[Citibank]], where he worked until 1977. He was awarded an MBA in economics from Harvard Business School in 1979 and joined the management consultancy company [[McKinsey]] | + | Norman attended the elite British public school [[Charterhouse]] <ref>Nick Mathiason, '[http://www.guardian.co.uk/business/2006/jun/11/theobserver.observerbusiness3 Norman to the rescue - again]', ''The Observer'', 11 June 2006</ref> and then Emmanuel College, Cambridge, where he studied economics. After graduating in 1975 he joined [[Citibank]], where he worked until 1977. He was awarded an MBA in economics from Harvard Business School in 1979 and joined the management consultancy company [[McKinsey]] <ref>‘[http://www.ukwhoswho.com/view/article/oupww/whoswho/U29647 NORMAN, Archibald John]’, ''Who's Who 2010'', A & C Black, 2010; online edn, Oxford University Press, Dec 2009; ''Debrett's People of Today'',[http://www.debretts.com/people/biographies/search/results/15123/Archibald%20John%20(Archie)%20NORMAN.aspx|Archie Norman, Esq] [Accessed 15 April 2010]</ref> where he was appointed the company's youngest partner at the age of 29. <ref>Helia Ebrahimi, '[http://www.telegraph.co.uk/finance/financetopics/profiles/5734674/Archie-Norman-the-ex-Asda-boss-who-saves-businesses-on-the-shelf.html Archie Norman: the ex-Asda boss who saves businesses on the shelf]', ''Daily Telegraph'', 3 July 2009.</ref> |
| − | In 1986 he was appointed finance director of Woolworth Holdings plc (later renamed Kingfisher plc). He was also Chairman of the company's property subsidiary Chartwell Land plc until 1991. <ref>''Debrett's People of Today'',[http://www.debretts.com/people/biographies/search/results/15123/Archibald%20John%20(Archie)%20NORMAN.aspx|Archie Norman, Esq] [Accessed 15 April 2010]</ref> That year he was appointed chief executive of [[Asda]]. He headed the company until 1996 and then served as Chairman from 1997 to 2000. <ref>''Debrett's People of Today'',[http://www.debretts.com/people/biographies/search/results/15123/Archibald%20John%20(Archie)%20NORMAN.aspx|Archie Norman, Esq] [Accessed 15 April 2010]</ref> | + | In 1986 he was appointed finance director of Woolworth Holdings plc (later renamed Kingfisher plc). He was also Chairman of the company's property subsidiary Chartwell Land plc until 1991. <ref>''Debrett's People of Today'',[http://www.debretts.com/people/biographies/search/results/15123/Archibald%20John%20(Archie)%20NORMAN.aspx|Archie Norman, Esq] [Accessed 15 April 2010]</ref> That year he was appointed chief executive of [[Asda]]. He headed the company until 1996 and then served as Chairman from 1997 to 2000. <ref>''Debrett's People of Today'',[http://www.debretts.com/people/biographies/search/results/15123/Archibald%20John%20(Archie)%20NORMAN.aspx|Archie Norman, Esq] [Accessed 15 April 2010]</ref> As chief executive Norman had to make what the ''Telegraph'' calls 'tough decisions' such as 'cutting 5,000 jobs'. [[Asda]] grew into Britain's second largest supermarket, and the group was sold to [[WalMart]] in 1999 for £6.5 billion. <ref>Helia Ebrahimi, '[http://www.telegraph.co.uk/finance/financetopics/profiles/5734674/Archie-Norman-the-ex-Asda-boss-who-saves-businesses-on-the-shelf.html Archie Norman: the ex-Asda boss who saves businesses on the shelf]', ''Daily Telegraph'', 3 July 2009.</ref> Norman was also a non-executive director of British Rail (later Railtrack) from 1992-2000 and was Chairman of the telecommunications company [[Energis]] from 2002-2005. |
| − | 'The City reacted positively to Norman's appointment, with ITV's share price up 4.7% in early trading to | + | From 2006 to 2009 he was Chairman of the private equity firm Aurigo Management. He has been a non-executive director of Holmes Place since 2003 and a senior advisor to the investment bank Lazard since 2004. <ref>''Debrett's People of Today'',[http://www.debretts.com/people/biographies/search/results/15123/Archibald%20John%20(Archie)%20NORMAN.aspx|Archie Norman, Esq] [Accessed 15 April 2010]</ref> In November 2009 it was announced that Norman would be appointed Chairman of [[ITV]]. According to the ''Guardian'', 'The City reacted positively to Norman's appointment, with ITV's share price up 4.7% in early trading'. <ref>Jason Deans and Graeme Wearden, '[http://www.guardian.co.uk/media/2009/nov/18/archie-norman-itv-chairman1 Archie Norman named ITV chairmanFormer Tory MP and Asda chief executive to replace Michael Grade at broadcaster]', guardian.co.uk, 18 November 2009</ref> |
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| + | ==Politics== | ||
| + | In 1997 Norman was elected Conservative MP for Tunbridge Wells. He was the first FTSE-100 chairman to sit in the House of Commons <ref>Chris Blackhurst, '[http://www.managementtoday.co.uk/channel/Leadership/news/735030/exclusive-mt-interview-archie-norman/ Exclusive MT interview: Archie Norman]', ''Management Today'', 3 September 2007.</ref> and whilst still Chairman of [[Asda]] was chief executive and deputy chairman of the [[Conservative Party]] (1997-1999). | ||
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| + | He was a Shadow Minister in [[William Hague|William Hague's]] Shadow Cabinet, serving as Shadow Minister for Europe 1999-2000 and Shadow Secretary of State for Environment, Transport and the Regions 2000-01. <ref>''Debrett's People of Today'',[http://www.debretts.com/people/biographies/search/results/15123/Archibald%20John%20(Archie)%20NORMAN.aspx|Archie Norman, Esq] [Accessed 15 April 2010]</ref> | ||
| + | |||
| + | Norman was one of a group of Conservative MPs who backed [[Michael Portillo|Michael Portillo’s]] campaign in the 2001 [[Conservative Party|Conservative]] leadership contest. Dubbed ‘Portillistas’ by Westminster commentators, [[Michael Portillo|Portillo’s]] backers saw themselves as modernisers of an out of touch party which had put off potential voters through its negativity, xenophobia and social conservatism. [[Michael Portillo|Portillo]] withdrew from the Conservative leadership race on the evening of 17 July 2001 and subsequently announced that he would leave politics. Only days later, Norman told the ''Daily Telegraph''’s Rachel Sylvester that he and other [[Michael Portillo|Portillo]] supporters were planning to set up a think-tank saying: ‘I came into public life to help transform the [[Conservative Party]] so it can win again, and that's what I'm still about.’ <ref>Rachel Sylvester, ‘[http://www.telegraph.co.uk/news/uknews/1334767/Norman-still-selling-Portillos-dream.html Norman still selling Portillo's dream]’, ''[[Daily Telegraph]]'', 21 July 2001.</ref> On 21 July the ''[[Daily Telegraph]]'' ran a front page headline, ‘Portillo supporters to fight on’. Norman was quoted as saying: | ||
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| + | <blockquote style="background-color:ivory;border:1pt solid Darkgoldenrod;padding:1%;font-size:10pt">We've got hundreds of thousands of people who don't want to lose what we were creating, we've got financial support from people who wanted to invest in this as the future of the party and we would like to find a way of channelling that and harnessing it. <ref>Rachel Sylvester, ‘[http://www.telegraph.co.uk/news/uknews/1334769/Portillo-supporters-to-fight-on.html Portillo supporters to fight on]’, ''[[Daily Telegraph]]'', 21 July 2001; p.1.</ref></blockquote> | ||
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| + | Norman and his friend [[Francis Maude]] (who had served as a non-executive director of [[Asda]] from 1992 to 1999) emerged as leaders of the ‘Portillistas’. They decided to set up two separate think-tanks as part of their modernisation project. One, XChange Ideas or simply XChange, would be rebranded as [[Policy Exchange]] a few months later. A company limited by guarantee, formed in October 2001, became XChange Ideas on 9 November 2001. A separate company [[Conservatives for Change]] was also was set up that October, and was branded [[CChange]]. Norman was a director of [[CChange]] (which has since been dissolved) from November 2001 to May 2005. That year Norman left parliament. | ||
==Affiliations== | ==Affiliations== | ||
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===References=== | ===References=== | ||
<references/> | <references/> | ||
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| + | [[Category:Old Carthusians|Norman, Archie]][[Category:Cambridge alumni|Norman, Archie]][[Category:Harvard alumni|Norman, Archie]] | ||
[[Category:MP|Norman, Archie]] | [[Category:MP|Norman, Archie]] | ||
| − | + | [[Category:Think Tanker|Norman, Archie]] | |
| + | [[Category:Conservative Party|Norman, Archie]] [[Category:British Politician|Norman, Archie]] | ||
==Notes== | ==Notes== | ||
<references/> | <references/> | ||
Latest revision as of 12:43, 3 March 2015
Archibald John Norman (born 1 May 1954), known as Archie Norman, is a businessman and former Conservative politician. He is best known for what Management Today calls his 'legendary years' at Asda during the 1990s when he cut 5,000 jobs and created enormous profits and growth for the company. It was later sold to Walmart for £6.5 billion, giving shareholders a 1,000 per cent return. [1] He is a co-founder of Policy Exchange and its now defunct sister organisation CChange and is currently Chairman of ITV.
Education and business career
Norman attended the elite British public school Charterhouse [2] and then Emmanuel College, Cambridge, where he studied economics. After graduating in 1975 he joined Citibank, where he worked until 1977. He was awarded an MBA in economics from Harvard Business School in 1979 and joined the management consultancy company McKinsey [3] where he was appointed the company's youngest partner at the age of 29. [4]
In 1986 he was appointed finance director of Woolworth Holdings plc (later renamed Kingfisher plc). He was also Chairman of the company's property subsidiary Chartwell Land plc until 1991. [5] That year he was appointed chief executive of Asda. He headed the company until 1996 and then served as Chairman from 1997 to 2000. [6] As chief executive Norman had to make what the Telegraph calls 'tough decisions' such as 'cutting 5,000 jobs'. Asda grew into Britain's second largest supermarket, and the group was sold to WalMart in 1999 for £6.5 billion. [7] Norman was also a non-executive director of British Rail (later Railtrack) from 1992-2000 and was Chairman of the telecommunications company Energis from 2002-2005.
From 2006 to 2009 he was Chairman of the private equity firm Aurigo Management. He has been a non-executive director of Holmes Place since 2003 and a senior advisor to the investment bank Lazard since 2004. [8] In November 2009 it was announced that Norman would be appointed Chairman of ITV. According to the Guardian, 'The City reacted positively to Norman's appointment, with ITV's share price up 4.7% in early trading'. [9]
Politics
In 1997 Norman was elected Conservative MP for Tunbridge Wells. He was the first FTSE-100 chairman to sit in the House of Commons [10] and whilst still Chairman of Asda was chief executive and deputy chairman of the Conservative Party (1997-1999).
He was a Shadow Minister in William Hague's Shadow Cabinet, serving as Shadow Minister for Europe 1999-2000 and Shadow Secretary of State for Environment, Transport and the Regions 2000-01. [11]
Norman was one of a group of Conservative MPs who backed Michael Portillo’s campaign in the 2001 Conservative leadership contest. Dubbed ‘Portillistas’ by Westminster commentators, Portillo’s backers saw themselves as modernisers of an out of touch party which had put off potential voters through its negativity, xenophobia and social conservatism. Portillo withdrew from the Conservative leadership race on the evening of 17 July 2001 and subsequently announced that he would leave politics. Only days later, Norman told the Daily Telegraph’s Rachel Sylvester that he and other Portillo supporters were planning to set up a think-tank saying: ‘I came into public life to help transform the Conservative Party so it can win again, and that's what I'm still about.’ [12] On 21 July the Daily Telegraph ran a front page headline, ‘Portillo supporters to fight on’. Norman was quoted as saying:
We've got hundreds of thousands of people who don't want to lose what we were creating, we've got financial support from people who wanted to invest in this as the future of the party and we would like to find a way of channelling that and harnessing it. [13]
Norman and his friend Francis Maude (who had served as a non-executive director of Asda from 1992 to 1999) emerged as leaders of the ‘Portillistas’. They decided to set up two separate think-tanks as part of their modernisation project. One, XChange Ideas or simply XChange, would be rebranded as Policy Exchange a few months later. A company limited by guarantee, formed in October 2001, became XChange Ideas on 9 November 2001. A separate company Conservatives for Change was also was set up that October, and was branded CChange. Norman was a director of CChange (which has since been dissolved) from November 2001 to May 2005. That year Norman left parliament.
Affiliations
References
- ↑ Chris Blackhurst, 'Exclusive MT interview: Archie Norman', Management Today, 3 September 2007.
- ↑ Nick Mathiason, 'Norman to the rescue - again', The Observer, 11 June 2006
- ↑ ‘NORMAN, Archibald John’, Who's Who 2010, A & C Black, 2010; online edn, Oxford University Press, Dec 2009; Debrett's People of Today,Norman, Esq [Accessed 15 April 2010]
- ↑ Helia Ebrahimi, 'Archie Norman: the ex-Asda boss who saves businesses on the shelf', Daily Telegraph, 3 July 2009.
- ↑ Debrett's People of Today,Norman, Esq [Accessed 15 April 2010]
- ↑ Debrett's People of Today,Norman, Esq [Accessed 15 April 2010]
- ↑ Helia Ebrahimi, 'Archie Norman: the ex-Asda boss who saves businesses on the shelf', Daily Telegraph, 3 July 2009.
- ↑ Debrett's People of Today,Norman, Esq [Accessed 15 April 2010]
- ↑ Jason Deans and Graeme Wearden, 'Archie Norman named ITV chairmanFormer Tory MP and Asda chief executive to replace Michael Grade at broadcaster', guardian.co.uk, 18 November 2009
- ↑ Chris Blackhurst, 'Exclusive MT interview: Archie Norman', Management Today, 3 September 2007.
- ↑ Debrett's People of Today,Norman, Esq [Accessed 15 April 2010]
- ↑ Rachel Sylvester, ‘Norman still selling Portillo's dream’, Daily Telegraph, 21 July 2001.
- ↑ Rachel Sylvester, ‘Portillo supporters to fight on’, Daily Telegraph, 21 July 2001; p.1.
