Martin Broughton

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Sir Martin Broughton
Chairman of British Airways
Incumbent
Assumed office
July 2004
Chairman of Liverpool Football Club
In office
10 April 2010 – 13 October 2010
Succeeded by Tom Werner
Personal details
Born (1947-04-15) 15 April 1947 (age 67)
London, UK
Profession Businessman

Sir Martin Faulkner Broughton (born 15 April 1947)[1] is a British businessman who is the current Deputy Chairman (Independent Non-Executive Director) of International Airlines Group, Formed in January 2011, IAG is the parent company of British Airways, Iberia and Vueling. It is a Spanish registered company with shares traded on the London Stock Exchange and Spanish Stock Exchanges. The corporate head office for IAG is in London, UK.. He is also a managing partner at Sports Investment Partners. He is a former chairman of Liverpool Football Club and also served as President of the Confederation of British Industry.

Former career[edit]

Broughton joined British American Tobacco in 1971, becoming Finance Director in 1988, Group chief executive and Deputy chairman in 1993 and, ultimately, Chairman and chief executive in 1998. In 1999, he also became an independent director of the British Horseracing Board, eventually succeeding Peter Saville as chairman in July 2004, at which point he retired from his roles at BAT.

Other directorships which Broughton has held include Wiggins Teape Group 1989–90 (as chairman), Eagle Star 1992–93 (as chairman) and Whitbread 1993–2000 (as non-executive director).[2]

Broughton was knighted in the 2011 New Year Honours for services to business.[3][4]

British Airways chairman[edit]

Sir Martin joined the British Airways board as a non-executive director in May 2000 became the Deputy chairman in November 2003[5] and became chairman in July 2004. Previous relevant experience: Chairman, British Airways 2004-2013.

Liverpool F.C. chairman[edit]

On 16 April 2010, Liverpool FC appointed Martin Broughton to be their new chairman, despite the fact that he is a lifelong Chelsea supporter.[6][7] Broughton was tasked with expiditing the sale of the club to new owners.[8]

On 6 October 2010, it was announced that Liverpool FC was to be sold to New England Sports Ventures (NESV) for the sum of £300m – significantly lower than the sums being requested by the club's existing owners, Tom Hicks and George Gillett.[9] In an attempt to scupper the deal, Tom Hicks attempted to sack Broughton's fellow directors Christian Purslow and Ian Ayre and install his son Mack Hicks and his assistant Lori Kay McCutcheon to reconstitute the board.[9] This would have given Hicks and Gillette control of the board and effectively block the sale.[9] However, on his appointment, Broughton had insisted that he be the only person with this right, and this clause had been installed into the articles of association of Liverpool FC.[9]

Broughton and the rest of the Liverpool FC board won the right to sell the club in a High Court case against Hicks and Gillett on 13 October 2010.[10] The ruling was described by the fans' group Kop Faithful as “It's like a huge cloud has been lifted off us.....Hicks and Gillett leave with no legacy, apart from one of chaos.” Broughton was succeeded as Liverpool FC chairman by Tom Werner after the takeover was completed by NESV.[7]

Tote Bid[edit]

In 2009, he spearheaded a private equity bid to buy The Tote as part of the government's privatisation process. The bid was made through an investment vehicle called Sports Investment Partners, with which his son Michael is also involved. The bid was one of five that successfully passed the first round of the process in January 2011.[11]

References[edit]

  1. ^ "Birthday's today". The Telegraph. 15 April 2011. Retrieved 14 April 2014. "Sir Martin Broughton, Chairman, British Airways, 64" 
  2. ^ "Martin Broughton Elected as next Chairman of BHB". British Horseracing Board. 24 March 2004. 
  3. ^ The London Gazette: (Supplement) no. 59647. p. 1. 31 December 2010.
  4. ^ New Year Honours: Broughton and Carr business knights
  5. ^ http://www.bashares.com/phoenix.zhtml?c=69499&p=irol-govBio&ID=87294
  6. ^ "Profile: Sir Martin Broughton". Daily Telegraph (Telegraph Media Group). 31 December 2010. Retrieved 5 September 2013. 
  7. ^ a b Pearce, James (22 November 2010). "Martin Broughton: Liverpool FC was “one of the most memorable experiences of my working life"". Liverpool Echo. Retrieved 5 September 2013. 
  8. ^ "Liverpool put up for sale by American owners". BBC Sport. BBC. 16 April 2010. Retrieved 5 September 2013. 
  9. ^ a b c d "Broughton attacks Tom Hicks and George Gillett over attempt to block New England Sports Ventures' takeover". Daily Mail (Associated Newspapers Ltd). 6 October 2010. Retrieved 5 September 2013. 
  10. ^ Prosser, David (16 October 2010). "Martin Broughton: Last-minute winner". The Independent. Retrieved 5 September 2013. 
  11. ^ Scutts, Andrew (2 February 2011). "Reuben brothers confirmed as still in running for Tote". Racing Post (London). p. 5.