Iain Vallance, Baron Vallance of Tummel
The Lord Vallance of Tummel
|Member of the House of Lords|
|Assumed office |
22 June 2004
|Born||20 May 1943|
|Political party||Liberal Democrats|
Early life and education
Vallance was educated at the Edinburgh Academy, Dulwich College, London and The Glasgow Academy. In 1965 he graduated from Brasenose College, Oxford with a Bachelor of Arts in English language and literature, and in 1972 from the London Business School with a Master of Science in business administration.
Vallance worked in the Post Office from 1966 to 1981, as director of central finance from 1976 to 1978, as director of telecommunications finance from 1978 to 1979 and as director of materials department from 1979 to 1981.
In 1981 he moved to the soon to be privatised British Telecommunications, for which he worked until 2002. After a period in finance, Vallance became Chief of Operations in 1985, and Chief Executive from 1986 to 1995, as chairman from 1987 until, with many investors calling for his resignation, he resigned as chairman in 2001, and finally served as president emeritus from 2001 to 2002. In 1999 he made a speech to the Telecoms Managers Association, which led to him being called the lollipop man:
Iain Vallance: When it comes to the mass deployment of new technology across our network, BT has the unenviable task of the lollipop man. His job is to restrain the over-exuberant children from dashing across the road at will, and to ensure that the crossing is made safely and in an orderly fashion.
The Greenbury Committee
In 1995 Vallance was a member of the Greenbury committee which produced a report Greenbury Report at the behest of the CBI, into executive remuneration. His appointment to the committee came despite previous controversy over his own pay at BT.
Since 2003 he has been member of the supervisory board of Siemens.
Honours and styles
Styles of address
- 1943–1994: Mr Iain Vallance
- 1994–2004: Sir Iain Vallance
- 2004–: The Rt Hon. The Lord Vallance of Tummel
Since 1967, Vallance has been married to Elizabeth Mary McGonnigill; they have one daughter and a son.
- "Vallance resigns from BT". BBC News. 26 April 2001.
- "Outlook: It is nice to be a lollipop man - just ask BT". The Independent. London. 8 December 1999.
- "No. 53741". The London Gazette. 22 July 1994. p. 10497.
- "No. 57340". The London Gazette. 29 June 2004. p. 8083.
- email@example.com. "Heriot-Watt University Edinburgh: Honorary Graduates". www1.hw.ac.uk. Retrieved 4 April 2016.
- "DodOnline". Retrieved 28 October 2006.