Adrian Cadbury

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Sir George Adrian Hayhurst Cadbury CH, DL (15 April 1929 – 3 September 2015) was Chairman of Cadbury and Cadbury Schweppes for 24 years, and a British Olympic rower. He was a pioneer in raising the awareness and stimulating the debate on corporate governance and produced the Cadbury Report, a code of best practice which served as a basis for reform of corporate governance around the world. [1]

Rowing (sport) Sport where individuals or teams row boats by oar

Rowing, often referred to as crew in the United States, is a sport whose origins reach back to Ancient Egyptian times. It involves propelling a boat on water using oars. By pushing against the water with an oar, a force is generated to move the boat. The sport can be either recreational for enjoyment or fitness, or competitive, when athletes race against each other in boats. There are a number of different boat classes in which athletes compete, ranging from an individual shell to an eight-person shell with a coxswain.

Corporate governance is the collection of mechanisms, processes and relations by which corporations are controlled and operated. Governance structures and principles identify the distribution of rights and responsibilities among different participants in the corporation and include the rules and procedures for making decisions in corporate affairs. Corporate governance is necessary because of the possibility of conflicts of interests between stakeholders, primarily between shareholders and upper management or among shareholders.

The Cadbury Report, titled Financial Aspects of Corporate Governance, is a report issued by "The Committee on the Financial Aspects of Corporate Governance" chaired by Adrian Cadbury that sets out recommendations on the arrangement of company boards and accounting systems to mitigate corporate governance risks and failures. The report was published in draft version in May 1992. Its revised and final version was issued in December of the same year. The report's recommendations have been used to varying degrees to establish other codes such as those of the OECD, the European Union, the United States, the World Bank etc.

Contents

Early life, education and rowing

Cadbury was born on 15 April 1929, [2] a member of the Cadbury family, which is known for its Quaker philosophy and for the chocolate conglomerate that it founded. He was educated at Eton and King's College, Cambridge. At Cambridge, he rowed in the losing Cambridge boat in the 1952 Boat Race. He also rowed in the Great Britain coxless four in the 1952 Summer Olympics in Helsinki. [3]

Eton College British independent boarding school located in Eton

Eton College is an English 13–18 independent boarding school and sixth form for boys in the parish of Eton, near Windsor in Berkshire. It was founded in 1440 by King Henry VI as The King's College of Our Lady of Eton besides Wyndsor, as a sister institution to King's College, Cambridge, making it the 18th-oldest Headmasters' and Headmistresses' Conference school.

Kings College, Cambridge college of the University of Cambridge

King's College is a constituent college of the University of Cambridge in Cambridge, England. Formally The King's College of Our Lady and Saint Nicholas in Cambridge, the college lies beside the River Cam and faces out onto King's Parade in the centre of the city.

Cambridge University Boat Club British rowing club

The Cambridge University Boat Club (CUBC) is one of the rowing clubs of the University of Cambridge, England. The club was founded in 1828 and has been located at the Goldie Boathouse on the River Cam, Cambridge since 1882. Nowadays, training primarily takes place on the River Great Ouse at Ely.

Life in business

He joined the Cadbury business in 1958, and became Chairman of Cadbury Ltd in 1965. He retired as Chairman of Cadbury Schweppes in 1989. He was a Director of the Bank of England from 1970 to 1994, and of IBM from 1975 to 1994. He was Chairman of the UK Committee on the Financial Aspects of Corporate Governance which published its Report and Code of Best Practice ("Cadbury Report and Code") in December 1992. He was a member of the OECD Business Sector Advisory Group on Corporate Governance. His publications include: Ethical Managers Make Their Own Rules; The Company chairman; Corporate Governance and Chairmanship: A Personal View. He was appointed High Sheriff of the West Midlands for 1994–95. [4]

Bank of England Central bank of the United Kingdom

The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker, and still one of the bankers for the Government of the United Kingdom, it is the world's eighth-oldest bank. It was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946.

IBM American multinational technology and consulting corporation

International Business Machines Corporation (IBM) is an American multinational information technology company headquartered in Armonk, New York, with operations in over 170 countries. The company began in 1911, founded in Endicott, New York, as the Computing-Tabulating-Recording Company (CTR) and was renamed "International Business Machines" in 1924.

OECD international economic organisation

The Organisation for Economic Co-operation and Development is an intergovernmental economic organisation with 36 member countries, founded in 1961 to stimulate economic progress and world trade. It is a forum of countries describing themselves as committed to democracy and the market economy, providing a platform to compare policy experiences, seeking answers to common problems, identify good practices and coordinate domestic and international policies of its members. Most OECD members are high-income economies with a very high Human Development Index (HDI) and are regarded as developed countries. As of 2017, the OECD member states collectively comprised 62.2% of global nominal GDP and 42.8% of global GDP at purchasing power parity. OECD is an official United Nations observer.

Support of Aston University

Sir Adrian had a long-standing relationship with Aston University. He served as Aston Chancellor between 1979 and 2004, later chaired the University's Development Board, and was one of the University's most generous supporters. As Chancellor Emeritus, Sir Adrian contributed to undergraduate and postgraduate courses, speaking in particular on governance, business ethics and corporate social responsibility. [5] He was also a patron of Aston Raise and Give Society, which is the fundraising body of Aston University. As part of the 60th anniversary celebrations of Aston Business School in 2008, Sir Adrian was awarded a rare Beta Gamma Sigma Business Achievement Award. Aston Business School's MBA lecture theatres were also named after Sir Adrian and Lady Susan Cadbury, in recognition of their long association with Aston University. [6]

Aston University public research campus university in Birmingham, England

Aston University is a public research university situated in the city centre of Birmingham, England. Aston began as the Birmingham Municipal Technical School in 1895, evolving into the UK’s first College of Advanced Technology in 1956. Aston University received its royal charter from Queen Elizabeth II on 22 April 1966.

Aston Business School (ABS) is one of the largest business schools in Europe. Part of Aston University, ABS is situated in the centre of Birmingham, England.

Beta Gamma Sigma honor society

Beta Gamma Sigma or ΒΓΣ is an academic honor society. Founded in 1913 at the University of Wisconsin, it has over 800,000 members, selected from over 540 collegiate chapters in business schools accredited by AACSB International. Founded in the United States, it has in recent years added collegiate chapters in Australia, Brazil, Canada, Egypt, France, Germany, Hong Kong, Israel, Lebanon, Liechtenstein, Malaysia, Mexico, New Zealand, Peru, Philippines, Singapore, Slovenia, South Korea, Spain, Switzerland, Taiwan, Thailand, the Netherlands, Turkey, United Arab Emirates, United Kingdom and Chile.

Honours and awards

He was made a Knight Bachelor in 1977, thereafter becoming Sir Adrian Cadbury. He was given the Freedom of the City of Birmingham in 1982. He was appointed as a Deputy Lieutenant (DL) of the West Midlands in 1995. [7]

The dignity of Knight Bachelor is the basic and lowest rank of a man who has been knighted by the monarch but not as a member of one of the organised orders of chivalry; it is a part of the British honours system. Knights Bachelor are the most ancient sort of British knight, but Knights Bachelor rank below knights of chivalric orders.

Freedom of the City Honour given in parts of Australia, Canada, Croatia, France, Gibraltar, Ireland, Italy, New Zealand, South Africa, Spain, the United Kingdom and Zimbabwe

The Freedom of the City is an honour bestowed by a municipality upon a valued member of the community, or upon a visiting celebrity or dignitary. Arising from the medieval practice of granting respected citizens freedom from serfdom, the tradition still lives on in countries such as the United Kingdom, Ireland, Australia, Canada, South Africa and New Zealand – although today the title of "freeman" confers no special privileges. The Freedom of the City can also be granted by municipal authorities to military units which have earned the city's trust; in this context, it is sometimes called the Freedom of Entry. This allows them the freedom to parade through the city, and is an affirmation of the bond between the regiment and the citizenry.

Birmingham City in the English Midlands, 2nd highest population of UK cities

Birmingham is the second-most populous city in the United Kingdom, after London, and the most populous city in the English Midlands. With an estimated population of 1,137,100 as of 2017, Birmingham is the cultural, social, financial and commercial centre of the Midlands. It is the main centre of the West Midlands conurbation, which is the third most populated urban area in the United Kingdom, with a population in 2011 of 2,440,986. The wider Birmingham metropolitan area is the second largest in the United Kingdom with a population of over 3.7 million. Birmingham is frequently referred to as the United Kingdom's "second city".

In recognition of his contribution to commerce, corporate governance and public life, Sir Adrian has received honorary degrees from many universities (including Aston University, the University of Birmingham, Birmingham City University, the University of Cambridge, and the University of Bristol). The Royal Society of Arts awarded Sir Adrian its Albert Medal in 1995, and he received one of the International Corporate Governance Network's inaugural awards in 2001. In early 2008, Sir Adrian was made an Honorary Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW). [8]

University of Birmingham university in Birmingham, England, United Kingdom

The University of Birmingham is a public research university located in Edgbaston, Birmingham, United Kingdom. It received its royal charter in 1900 as a successor to Queen's College, Birmingham and Mason Science College, making it the first English civic or 'red brick' university to receive its own royal charter. It is a founding member of both the Russell Group of British research universities and the international network of research universities, Universitas 21.

Birmingham City University

Birmingham City University is a university in Birmingham, England. Initially established as the Birmingham College of Art with roots dating back to 1843, it was designated as a polytechnic in 1971 and gained university status in 1992.

University of Cambridge University in Cambridge, England, United Kingdom

The University of Cambridge is a collegiate public research university in Cambridge, United Kingdom. Founded in 1209 and granted a Royal Charter by King Henry III in 1231, Cambridge is the second-oldest university in the English-speaking world and the world's fourth-oldest surviving university. The university grew out of an association of scholars who left the University of Oxford after a dispute with the townspeople. The two 'ancient universities' share many common features and are often referred to jointly as 'Oxbridge'. The history and influence of the University of Cambridge has made it one of the most prestigious universities in the world.

Sir Adrian was a Steward of Henley Royal Regatta and the President of Birmingham Rowing Club. [9]

Sir Adrian was appointed Member of the Order of the Companions of Honour (CH) in the 2015 New Year Honours for services to business and the community, especially in Birmingham. [10] [11]

Death

He died on 3 September 2015, aged 86. [12]

Publications

See also

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References

  1. https://www.washingtonpost.com/business/adrian-cadbury-a-leader-in-corporate-governance-dies-at-86/2015/09/04/e87dd2fe-532e-11e5-8c19-0b6825aa4a3a_story.html
  2. "Birthday's today". The Telegraph. 15 April 2011. Retrieved 14 April 2014. Sir Adrian Cadbury, Chairman, Cadbury Schweppes, 1975–89, 82
  3. "Adrian Cadbury Biography and Olympic Results". Sports Reference LLC. Retrieved 3 July 2012.
  4. "No. 53618". The London Gazette . 18 March 1994. p. 4244.
  5. http://www.aston.ac.uk/about/news/releases/2015/january/sir-adrian-cadbury-in-new-year-honours-list/
  6. "Archived copy". Archived from the original on 1 February 2014. Retrieved 2014-01-24.CS1 maint: Archived copy as title (link)
  7. http://www.wmlieutenancy.org/deputy%20lieutenants%20on%20supplemental%20list.html#Cadbury Archived 15 September 2015 at the Wayback Machine
  8. http://alumni-web-01.aston.ac.uk/alist/details/4/adrian-cadbury
  9. Christopher Anton (15 September 2011). "Club Admin". Birmingham Rowing Club. Retrieved 3 July 2012.
  10. "No. 61092". The London Gazette (Supplement). 31 December 2014. p. N28.
  11. 2015 New Year Honours List Archived 2 January 2015 at the Wayback Machine
  12. "Adrian Cadbury, British corporate governance leader, dies at 86". Chicago Tribune. 4 September 2015. Retrieved 4 September 2015.