Bill Grimsey
| Bill Grimsey | |
|---|---|
| Born | 21 January 1952 Pimlico, London, England |
| Occupation | Businessman |
| Spouse | Jan |
| Children | Two sons[1] |
Bill Grimsey is a businessman living in Radlett in the United Kingdom who has specialised in the food and DIY sectors, most notably at Wickes, Iceland, and Focus (DIY).
Contents |
[edit] Early career
Grimsey left school at 15 to became a butcher's boy. Under pressure from his father he then trained as a civil engineer for two years before returning to college to take his A-levels, and joining Bishop's Food Stores as a trainee manager, rising to become a director. The chain was eventually bought by Booker. When Bishop's merged with Budgens in 1986, Grimsey joined Tesco to work for Lord MacLaurin.
In 1988, Grimsey left to run Hutchison Whampoa's Park n' Shop supermarket chain in Hong Kong, where he remained five years, increasing profits twentyfold. He then returned to the United Kingdom for a short spell at Kingfisher plc.[1]
[edit] Wickes
He then ran Wickes' joint venture in South Africa, returning to the UK again in July 1996 to take up the position of managing director of WBS, the Wickes' retailing subsidiary which was at the centre of serious accounting irregularities. In November Grimsey moved to Wickes to oversee its recovery from the accounting irregularity scandal that saw its share price suspended and the banks foreclosing.[2] Grimsey launched a rights issue,[3] started an employee share scheme, and turned around the company to the point where it was bought by Focus-Do-It-All, backed by Duke Street Capital.[4]
[edit] Iceland
In January 2001 he took up the position of CEO of Iceland, replacing Stuart Rose who had been CEO since Iceland's merger with Booker plc in the summer of 2000.[5] Malcolm Walker, Iceland's founder & Chairman, was forced to stand down soon after as it was revealed he had sold £13.5 million of Iceland shares five weeks before the company released the first of several profits warnings.[6][7] Walker was not fully cleared of these allegations until October 2004.[8]
Iceland was renamed the Big Food Group in Feb 2002,[9] and attempted a refocus on the convenience sector with a bid for Londis.[10] Grimsey remained until the takeover and demerger of the Big Food Group by a consortium led by the Icelandic company, Baugur Group in February 2005. Walker returned to his previous role at Iceland.[9] Under Walker's control Iceland's website is a polemic against Grimsey's period in charge.[11]
[edit] Later career
Grimsey then worked as a Senior Managing Director (interim manager) at FTI Palladium Partners, London from March 2006.[12]
He later served as a non-executive director of Capita Group plc from October 2006[13][14] until standing down in July 2010,[15] and as CEO of Focus (DIY) from its acquisition by Cerberus Capital £1 in June 2007[16] then as its chairman from 2010[17] until the company's insolvency in May 2011.[18]
[edit] References
- ^ a b Mathiason, Nick (2001-01-28). "Butcher's boy with a lot to deliver at Iceland". The Observer. http://www.guardian.co.uk/business/2001/jan/28/theobserver.observerbusiness10. Retrieved 2009-04-16.
- ^ Tooher, Patrick (1996-11-29). "Wickes names Grimsey as new chief executive". Independent.co.uk. http://www.independent.co.uk/news/business/wickes-names-grimsey-as-new-chief-executive-1354793.html. Retrieved 2009-04-16.
- ^ Cope, Nigel (1997-01-07). "Wickes to resume trading today". Independent. http://findarticles.com/p/articles/mi_qn4158/is_19970107/ai_n9648083/. Retrieved 2009-04-16.[dead link]
- ^ "Do It All at Wickes". BBC. 2000-09-01. http://news.bbc.co.uk/1/hi/business/905861.stm. Retrieved 2009-04-16.
- ^ "Iceland pays the price of Rose's organic neglect". Independent.co.uk. 2001-01-23. http://www.independent.co.uk/news/business/comment/iceland-pays-the-price-of-roses-organic-neglect-703404.html. Retrieved 2009-04-16.
- ^ Rankine, Kate (2001-04-11). "Walker quits after Iceland sales dive". Telegraph.co.uk. http://www.telegraph.co.uk/finance/4480049/Walker-quits-after-Iceland-sales-dive.html. Retrieved 2009-04-16.
- ^ Cave, Andrew (2001-08-21). "'I acted properly' says Iceland's Malcolm Walker". Telegraph.co.uk. http://www.telegraph.co.uk/finance/2730881/I-acted-properly-says-Icelands-Malcolm-Walker.html. Retrieved 2009-04-16.
- ^ Laurance, Ben (2004-10-17). "Walker gets all-clear over Iceland". Mail on Sunday. http://www.thisismoney.co.uk/news/article.html?in_article_id=394530&in_page_id=2&in_a_source=. Retrieved 2009-04-16.
- ^ a b "Iceland's history". Iceland. http://www.iceland.co.uk/page/view/about_iceland_story. Retrieved 2009-04-16.[dead link]
- ^ Reece, Damian (2003-12-29). "Grimsey goes on charm offensive to woo wavering Londis shareholders". Independent.co.uk. http://www.independent.co.uk/news/business/news/grimsey-goes-on-charm-offensive-to-woo-wavering-londis-shareholders-577963.html. Retrieved 2009-04-16.
- ^ "The one, two, three, four, five year recovery plan!". iceland.co.uk. http://www.iceland.co.uk/page/view/recovery_plan. Retrieved 2009-04-16.
- ^ "Retail Experts Join FTI Palladium Partners, London.". Business Wire. 2006-03-27. http://www.allbusiness.com/banking-finance/5384239-1.html. Retrieved 2009-04-16.
- ^ "Corporate governance". Capita Group plc. 2009. http://www.capitareport2008.co.uk/governance/corporate-governance/corporate-governance.aspx. Retrieved 2009-04-16.
- ^ "ft.com/marketsdata - Capita Group CPI:LSE". FT.com. http://markets.ft.com/tearsheets/businessProfile.asp?s=UK:CPI&ftauth=1239873425692. Retrieved 2009-04-16.
- ^ Capita plc. "Annual Report 2011". http://www.capita.co.uk/Documents/Annual%20Report%202010.pdf. Retrieved 17 July 2011.
- ^ "Acquisition of Focus (DIY) to be completed". 2007-07-24. http://www.focusdiy.co.uk/page/acquisitionoffocusdiy. Retrieved 2009-04-16.[dead link]
- ^ "Bill Grimsey to become Focus chair". Drapers. 2010-04-23. http://www.drapersonline.com/careers/appointments/bill-grimsey-to-become-focus-chair/5012449.article. Retrieved 2010-06-09.[dead link]
- ^ Zoe Wood; Julia Kollewe (25 May 2011). "Focus DIY to shed 3,000 jobs as stores close". The Guardian. http://www.guardian.co.uk/business/2011/may/25/focus-diy-3000-job-losses-stores-close. Retrieved 17 July 2011.
