Philip Nevill Green
Philip Nevill Green CBE (born 12 May 1953) is a British business executive. He was chairman of Carillion from May 2014 until Carillion entered compulsory liquidation in January 2018. Green was chairman of BakerCorp from June 2011 until December 2017.
Philip Green was born on 12 May 1953 in Folkestone, Kent. He has a twin and is his parents' eldest son. He graduated from University College of Swansea and completed an MBA at London Business School.
From 1977 to 1980, Green was vice-president, marketing of Crayonne (USA). From 1980 to 1985, he was managing director of the home furnishing division of the Coloroll group, becoming group development director in 1985, and then managing director from 1989 to 1990. In 1994, as a trustee of the Coloroll group's pension fund, he was found guilty of a breach of trust and of maladministration of the scheme by the Pensions Ombudsman. By this time, he was working for DHL, firstly as regional director for Northern Europe (1990–1994), and then as chief operating officer for Europe and Africa (1994–1999). He then spent four years with Thomson Reuters before being appointed as CEO of Royal P&O Nedlloyd from 2003 to 2006.
From 2006 to 2011 he was chief executive of United Utilities (succeeded by Steve Mogford), and was the chairman of the shipbroker, Clarkson. He advised the British prime minister David Cameron on issues such as corporate responsibility. In addition, he has supported several charity projects including Sentebale and Hope Through Action.
On 3 January 2018 Carillion, a company chaired by Green, announced that the Financial Conduct Authority was investigating the timeliness and content of the company's announcements from December 2016 regarding its financial situation.
On 15 January 2018 Carillion was put into compulsory liquidation amidst widespread condemnation of its debt position and approach to risk in large contracts. Green said his responsibility was "full and complete, total – no question in my mind about that. Not necessarily culpability but full responsibility". Green was one of a number of former Carillion Directors described as "delusional characters" by House of Commons Select Committee Chairs Frank Field (Work and Pensions) and Rachel Reeves (Business, Energy and Industrial Strategy).
After further documentation and correspondence was published by the select committees, Carillion directors bosses were described by MPs as "fantasists" chasing "a pot of gold", with chairman Philip Green described by Rachel Reeves as having "either a woeful lack of leadership or no grip on reality," having advocated an "upbeat" messaging strategy five days before a profits warning.
In the final report of the Parliamentary inquiry into the collapse of Carillion, published on 16 May 2018, Green was described as "delusional." The report concluded:
- "He interpreted his role as to be an unquestioning optimist, an outlook he maintained in a delusional, upbeat assessment of the company’s prospects only days before it began its public decline. While the company’s senior executives were fired, Mr Green continued to insist that he was the man to lead a turnaround of the company as head of a “new leadership team”. Mr Green told us he accepted responsibility for the consequences of Carillion’s collapse, but that it was not for him to assign culpability. As leader of the board he was both responsible and culpable."
The parliamentary process and findings have been questioned (by former Carillion directors) as lacking in objectivity and thoroughness, treating a highly complex situation in an incomplete manner. Former Carillion CEO Richard Howson (whose letters were published by the select committees on 12 July 2018), contends that Carillion was a victim of its public sector clients and that "any analysis as to the causes of the failure of Carillion is not complete without looking at the way in which government and the wider public sector procured services from Carillion and failed to administer payments."
In November 2020, the Financial Conduct Authority said some Carillion directors had "acted recklessly" and released "misleadingly positive" market updates before it collapsed. As a result, the FCA said it had sent notices to some (unnamed) former Carillion directors warning of possible enforcement action (possible sanctions include public censure, fines and suspensions from holding certain positions). In January 2021, the Insolvency Service said it would seek to ban eight former Carillion directors, including Green, from holding senior boardroom positions.
- Terry Macalister, The Guardian, 3 February 2004, P&O casts off container unit. Retrieved 11 June 2014, "... based in London and headed by liner boss Philip Green..."
- Neilan, Catherine (15 January 2018). "Carillion chairman Philip Green was a Number 10 adviser". City AM.
- Philip Nevill Green (executive profile). Retrieved 11 June 2014, "...Green served as the Chief Executive Officer of United Utilities Group PLC (a/k/a United Utilities PLC) from March 31, 2006 to March 31, 2011. .."
- "Index entry". FreeBMD. ONS. Retrieved 17 January 2018.
- "Index entry". FreeBMD. ONS. Retrieved 17 January 2018.
- "Green, Philip Nevill, (born 12 May 1953), non-executive Chairman: BakerCorp. Inc., since 2011; Sentebale, since 2011; Carillion plc, since 2014 (Senior Independent non-executive Director, 2011–14)." WHO'S WHO & WHO WAS WHO.
- "Philip Nevill Green CBE". Bloomberg. Bloomberg. Retrieved 17 January 2018.
- Neilan, Catherine (16 January 2018). "Carillion boss Philip Green has previously been found guilty of a breach of trust over pensions". City AM. Retrieved 17 January 2018.
- 27 September 2013, James Quinn, Financial Editor, The Telegraph, RBS to create new challenger bank under revived 'Williams & Glyn's' brand: Royal Bank of Scotland is to create a new challenger brand under the revived 'Williams & Glyn’s’ brand after opting to take an £800m investment from a group led by private equity firm Corsair Capital. Retrieved 11 June 2014, "...Philip Green, the former chief executive of United Utilities..."
- Paul Newton, 6 April 2011, Utility Week, Philip Green on five years as chief of United Utilities: Philip Green is leaving United Utilities today after five years as its chief executive. He spoke to Janet Wood about the experience.. Retrieved 11 June 2014, "...one thing Philip Green won't miss about his five years running a regulated business at United Utilities, it's the regulatory paperwork. ..."
- Jason O'Connell, 13 February 2014, Trade Winds News, Green leaves Clarksons: Philip Green is stepping down as chairman of the board at Clarksons barely six months after joining the world’s largest shipbroker. Retrieved 11 June 2014, "...The former P&O Nedloyd chief executive is leaving to focus on his other commitments..."
- Jenna Pudelek, Third Sector Online, 8 February 2013, Government should make giving more tax-efficient, says Prime Minister's CSR adviser. Retrieved 11 June 2014, "...Philip Green ... The Prime Minister's adviser on corporate social responsibility...."
- 7 May 2014, Victoria Murphy, The Mirror, Prince Harry makes first official appearance since split with Cressida Bonas to host charity party. Retrieved 11 June 2014, "...Sentebale Chairman Philip Green...."
- 14 June 2010: New sports centre opens in Mbekweni – . Retrieved 11 June 2014, "...Philip Green, patron of the charity Hope Through Action...."
- "Carillion probed by financial watchdog". BBC. 3 January 2018. Retrieved 7 January 2018.
- "Carillion to go into liquidation". BBC. 15 January 2018. Retrieved 15 January 2018.
- "Carillion: Ex-chairman Philip Green takes blame for collapse". BBC. 6 February 2018.
- Rob Davies (1 January 1970). "Former Carillion directors branded 'delusional' at MPs' Q&A | Business". The Guardian. Retrieved 8 February 2018.
- Goodley, Simon (28 February 2018). "Carillion bosses were fantasists chasing pot of gold, MPs say". Guardian. Retrieved 28 February 2018.
- "Carillion Chair "upbeat" days before massive profit warning". Parliament.uk: Select committees. Retrieved 1 March 2018.
- Carillion: Second Joint report from the Business, Energy and Industrial Strategy and Work and Pensions Committees of Session 2017–19 (PDF). London: House of Commons. 2018. p. 88. Retrieved 16 May 2018.
- Carillion: Second Joint report from the Business, Energy and Industrial Strategy and Work and Pensions Committees of Session 2017–19 (PDF). London: House of Commons. 2018. p. 93. Retrieved 16 May 2018.
- "Carillion: Responses from Interested Parties to the Tenth Report of the Business, Energy and Industrial Strategy Committee and Twelfth Report of the Work and Pensions Committee". Parliament.uk. Retrieved 13 July 2018.
- Howson, Richard (12 July 2018). "What the MPs Missed". The Construction Index. Retrieved 12 July 2018.
- Price, David (13 November 2020). "Carillion directors 'recklessly' misled the market, says watchdog". Construction News. Retrieved 13 November 2020.
- Partington, Richard (13 January 2021). "Legal bid launched to ban ex-Carillion directors from top boardroom roles". Guardian. Retrieved 13 January 2021.
- "No. 60895". The London Gazette (Supplement). 14 June 2014. p. b9.