Andrew Regan

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Andrew Regan
Born (1965-12-14) 14 December 1965 (age 49)
Manchester, England, UK
Residence Geneva, Switzerland
Nationality British
Occupation Entrepreneur
Employer Corvus Capital
Title Chief Executive Officer
Children Seven

Andrew Regan (born 14 December 1965, Manchester, England) is a British-born polar explorer[1][2] and entrepreneur. He is the chief executive officer of Corvus Capital, an investment company.[3]

Personal life[edit]

Regan was born in Manchester, and is divorced with seven children.[4] He resides in Geneva, Switzerland.[5]

Career[edit]

Hobson[edit]

Early in his career, Regan ran a household products business, Cadismark, which was sold to Hobson plc in 1991.[5][6] Following the sale, he became the chief executive of Hobson, which was listed on the London Stock Exchange. In 1994, Hobson acquired F.E. Barber, the food and drinks manufacturing operation of the Co-operative Wholesale Society.[6][7]

Regan was responsible for developing the Loyd Grossman range of sauces which were manufactured by F.E. Barber. After rationalising the operation, Hobson was acquired in 1996 by Hillsdown Holdings for £154 million, through a recommended cash takeover.[5]

Co-operative Wholesale Society (CWS)[edit]

In 1997 Regan led an attempt to gain control of the CWS in a £1.2 billion take-over bid which was rejected. As part of its bid defence, the CWS carried out an investigation into former dealings between certain CWS executives and Regan.[8] In 1995 Regan had authorised the transfer of £2.4 m from F.E. Barber which he maintained he provided to an intermediary as a brokerage fee for successfully resolving the deadlock between the CWS and Hobson in negotiations about extending a food supply contract; the Serious Fraud Office (SFO) maintained that the transfer was used by the intermediary to provide a bribe to two senior CWS executives in order to extend the contract, and unsuccessfully prosecuted Regan on a charge of theft of £2.4 million.[8]

Regan's first trial resulted, in 2002, in a hung jury and a retrial was ordered. This retrial in 2003, ended when a juror alleged he was approached by an unknown party.[9][10][11] At the second retrial (also in 2003), Regan was acquitted with the judge noting that he was minded to order the SFO to pay Regan's defence costs.[10] In 2005, the Co-operative Group (successor to the CWS) received what it described as a "substantial payment" as part of an out-of-court settlement with Regan and others in a civil case relating to the accusations.[7][12]

Corvus Capital[edit]

Regan became the chief executive officer of Corvus Capital, an international investment company, in 2004.[5] Corvus was established to identify assets or companies which are either underperforming or undervalued. The management team attempt to acquire or tactically reposition such companies in order to realise potential value. Corvus Capital, Inc. was listed in the UK on the London Stock Exchange's Alternative Investment Market (AIM)[3] before it was taken private in December 2008.[citation needed]

Corvus founded Lodore Resources, an AIM-listed investment company formed in 2004 with the intention to build a group specialising in the oil and gas sector.[3] The company listed with a market capitalisation of £6.4 million, and after building a group with its assets principally in the United States. In 2005 the company was acquired for a total consideration of £115.0 million. Other Corvus investments included, amongst others, Commoditrade and Gable Holdings.[3]

Regan has been involved in several start-up companies including Imperial Energy, an upstream oil and gas exploration and production company focused on the Commonwealth of Independent States and, in particular, the Russian Federation. The company was floated on AIM in 2004 at 25p per share and moved to the Official List in 2007. In 2008, Imperial was acquired by ONGC Videsh of India for £1.3 billion (1,125 pence per share).[13]

ASOS[edit]

ASOS Plc was brought to the market by Regan, which is now the UK's largest independent online fashion retailer.[14][15] As Seen on Screen, as it was then known at listing, was reversed into Brindle Limited, a shell company created by a consortium of fellow Monaco investors that included Nigel Robertson.[16] The AIM listing raised only £255,000 (£95,000 after expenses) and had a market capitalisation of £12m when listed on the AIM Market in 2001, growing to £2.47bn in 2014.[17]

Polar travel[edit]

North Pole[edit]

Regan visited the Geographic North Pole for the first time in 2004. In April 2008 he returned, completing an Expedition on foot with three of his children, Jojo, Alex and Sam to raise awareness about climate change. His latest visit was in 2014, taking the total number of times he has reached the pole to 3.[18]

Ice Challenger 05[edit]

Regan is an experienced Polar traveller and has been to both the North Pole, including an expedition with three of his children,[19] and the South Pole.[20] In 2005, he led the Ice Challenger Expedition, a world record attempt for the fastest overland crossing to the South Pole.[21] The six-man Ice Challenger team completed the 1,200 km route in 69 hours, breaking the previous world record of 24 days (576 hours).[20] The expedition aimed to increase awareness of global warming. The entire team wanted to highlight the impact of climate change on the Antarctic, to the rest of the world.[21]

Moon-Regan TransAntarctic Expedition[edit]

Regan returned to Antarctica in November 2010, leading the Moon Regan TransAntarctic Expedition.[1] The 10-man expedition team completed the first ever there-and-back crossing of Antarctica, a journey of some 4,000 km, in 23 days. They travelled from Patriot Hills on the west coast to the South Pole, heading north from there through the Trans-Antarctic Mountains, down the Leverett Glacier and off the coastline onto the Ross Ice Shelf.[22]

Winston Wong, a prominent Taiwanese businessman and alumnus of Imperial College London, was the main sponsor to the expedition. The Winston Wong Bio-Inspired Ice Vehicle was the lead vehicle in the expedition and was the first ever bio-fuelled vehicle to reach the Geographic South Pole.[23] The WWBIV is currently on display at the Magic School for Green Technology at the National Cheng Kung University in Tainen.[24]

The expedition partnered with Imperial College London, to carry out scientific experiments in Antarctica.[25] The senior research associate Ray Thompson accompanying the team provided a network of mobile wireless sensors, developed at the College, which were tested to continuously monitor the team's health.

References[edit]

  1. ^ a b Moon-Regan Trans Antarctic Expedition. "Moon-Regan Trans Antarctic Expedition". 
  2. ^ "UK team claims fastest land crossing of Antarctica" (Press release). Antarctica: BBC News. 9 December 2010.  |first1= missing |last1= in Authors list (help)
  3. ^ a b c d Bland, Ben (3 September 2007). "Aim profile: Andrew Regan" (Press release). London: The Telegraph. Retrieved 27 April 2014. 
  4. ^ "Future". Ice Challenger Expedition. Retrieved 19 March 2008. 'I've got six kids.' 
  5. ^ a b c d "Andrew Regan - Chief Executive". http://www.corvus.com. Retrieved 10 June 2011. 
  6. ^ a b Russel Hotten (29 April 1994). "Hobson to buy Co-op's food producer for £111m: Regan to triple size of household products company". The Independent (London). 
  7. ^ a b "‘Regan matter is now closed’". The Grocer. 5 March 2005. Retrieved 3 December 2009. 
  8. ^ a b "Andrew Regan acquitted of theft of £2.4 million" (Press release). Serious Fraud Office. 6 August 2003. Retrieved 8 January 2008. 
  9. ^ "SFO under fire after Regan acquitted in Co-op theft case" (Press release). The Independent. 6 August 2003. Retrieved 15 July 2010. The second trial, earlier this year, was halted amid suggestions that the jury might have been subject to improper approaches by an unknown party. 
  10. ^ a b Aldrick, Philip (7 August 2003). "Regan walks free but faces Co-op challenge". London: The Daily Telegraph. Retrieved 14 July 2010. 
  11. ^ Tomlinson, Heather (10 August 2003). "The Thing Is: Andrew Regan". Business News (London: The Independent). Retrieved 11 January 2008. 
  12. ^ "Regan's out-of-court settlement with Co-op Group". Co-operative News. 18 February 2005. Retrieved 15 Jul 2010. 
  13. ^ "ONGC acquire Imperial Energy". 
  14. ^ Nick Robertson was anticipating a bumper Christmas for online fashion retailer Asos (18 December 2005). "Boom time to... Buncefield". London: The Guardian. 
  15. ^ Fletcher, Richard (20 June 2011). "With no shopping list in sight putting money in Vallares is more a gamble than an investment". London: The Daily Telegraph. For example ASOS, the online fashion retailer and stock market darling, was bought to the market by financier Andrew Regan, who reversed it into a shell. 
  16. ^ Richard Fletcher (2014-06-06). "Darling of the dotcoms was a born survivor". thetimes.co.uk/. Retrieved 2014-07-01. 
  17. ^ Based on SP of 15.88 GBp. "London Stock Exchange Website". Retrieved 1 July 2014. 
  18. ^ Beltran, Luisa (16 April 2014). "MVision’s Guen risks extreme cold, polar bears for North Pole trip" (Press release). PEHUB.com. Retrieved 25 July 2014. 
  19. ^ Andrew Regan travels to North Pole with Three of his children. "Junior Polar Traveller". 
  20. ^ a b Guinness world records 2008. London: Guinness World Records. 2007. p. 97. ISBN 978-1-904994-18-3. OCLC 174109903. 
  21. ^ a b Concepts, Voyage. "Ice Challenger - World Record for the fastest overland crossing to South Pole". Archived from the original on 28 November 2006. Retrieved 6 December 2006. 
  22. ^ Moon-Regan Trans Antarctic Expedition route. "Moon-Regan Trans Antarctic Expedition expedition route". 
  23. ^ Winston Wong Bio-Inspired Ice Vehicle. "Winston Wong Bio-Inspired Ice Vehicle". 
  24. ^ Winston Wong Bio-Inspired Ice Vehicle. "Winston Wong Bio-Inspired Ice Vehicle". 
  25. ^ Imperial College London Article. "Imperial College London Article". 

External links[edit]