Martin Broughton

Last updated

Sir Martin Broughton
Chairman of British Airways
In office
July 2004 December 2013
Preceded by Colin Marshall, Baron Marshall of Knightsbridge
Succeeded by Keith Williams
Chairman of Liverpool Football Club
In office
10 April 2010 13 October 2010
Preceded by Tom Hicks &
George N. Gillett, Jr.
Succeeded by Tom Werner
Personal details
Born (1947-04-15) 15 April 1947 (age 71)
London, United Kingdom
Profession Businessman

Sir Martin Faulkner Broughton (born 15 April 1947) [1] is a British businessman and Deputy Chairman 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.

International Consolidated Airlines Group, S.A., often shortened to IAG, is an Anglo-Spanish multinational airline holding company with its registered office in Madrid, Spain and its operational headquarters in London, UK. It was formed in January 2011 after a merger agreement between British Airways and Iberia, the flag carrier airlines of the United Kingdom and Spain respectively. As British Airways was the larger company, those holding shares in British Airways at the time of the merger were given 55% of the shares in the new, merged company. British Airways and Iberia ceased to be independent companies and instead became 100% owned subsidiaries of IAG. It is the sixth-largest airline company in the world, producing €22.972 billion revenue in 2017. The company is listed on the London Stock Exchange and the Madrid Stock Exchange. It is a constituent of the FTSE 100 Index and IBEX 35 Index.

British Airways (BA) is the flag carrier and the second largest airline in the United Kingdom based on fleet size and passengers carried, behind easyJet. The airline is based in Waterside near its main hub at London Heathrow Airport. In January 2011 BA merged with Iberia, creating the International Airlines Group (IAG), a holding company registered in Madrid, Spain. IAG is the world's third-largest airline group in terms of annual revenue and the second-largest in Europe. It is listed on the London Stock Exchange and in the FTSE 100 Index.

Iberia, legally incorporated as Iberia, Líneas Aéreas de España, S.A. Operadora, Sociedad Unipersonal, is the flag carrier airline of Spain, founded in 1927. Based in Madrid, it operates an international network of services from its main base of Madrid-Barajas Airport. Iberia, with Iberia Regional and with Iberia Express, is a part of Iberia Group. In addition to transporting passengers and freight, Iberia Group carries out related activities, such as aircraft maintenance, handling in airports, IT systems and in-flight catering. Iberia Group airlines fly to over 109 destinations in 39 countries, and a further 90 destinations through code-sharing agreements with other airlines.

Contents

Former career

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.

British American Tobacco British multinational tobacco company

British American Tobacco plc (BAT) is a British multinational cigarette and tobacco manufacturing company headquartered in London, United Kingdom. It is the largest publicly traded tobacco company in the world.

From 10 June 1993 until 30 July 2007, the British Horseracing Board (BHB) was the governing authority for horseracing in Great Britain. It was created in 1993, and took on responsibilities previously held by the Jockey Club. This was intended to help modernise the sport, as the Jockey Club is a private members' club with a traditionally aristocratic membership, and was seen by some as being unaccountable and a relic of the tradition of amateurism in British sports administration. The Jockey Club however retained responsibility for matters concerned with the regulation of the sport, such as integrity, discipline and equine health. The British Horseracing Board focused on organising and promoting the sport and enhancing its commercial position. This was an extract from its statement of aims published in 2006:

As the Governing Authority for Racing, we will promote the interests of our sport and industry in whatever way we can.... We will work to attract and retain more racehorse owners, racegoers and other customers. We will seek to maintain and promote horseracing as a competitive and attractive sport and betting medium. We also wish to see the best possible training and working conditions for those employed in the industry, and the highest possible standards of care for horses.

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]

Arjo Wiggins company

Arjowiggins is a leading producer of paper products. It was listed on the London Stock Exchange and used to be a constituent of the FTSE 100 Index but is now owned by Worms & Cie.

Whitbread plc is a British multinational hotel and restaurant company headquartered in Houghton Regis, Bedfordshire, United Kingdom. The company has its origins in brewing.

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

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.

British Airways chairman

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

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

Liverpool F.C. Association football club in England

Liverpool Football Club is a professional football club in Liverpool, England, that competes in the Premier League, the top tier of English football. The club has won 5 European Cups, more than any other English club, 3 UEFA Cups, 3 UEFA Super Cups, 18 League titles, 7 FA Cups, a record 8 League Cups, and 15 FA Community Shields.

Chelsea F.C. association football club

Chelsea Football Club is a professional football club in Chelsea, London, England, that competes in the Premier League, the highest tier of English football. The club has won six top division titles, eight FA Cups, five League Cups, four FA Community Shields, two UEFA Cup Winners' Cups, one UEFA Champions League, one UEFA Europa League, and one UEFA Super Cup.

On 6 October 2010, it was announced that Liverpool F.C. 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 F.C. [9]

Broughton and the rest of the Liverpool F.C. 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 F.C. chairman by Tom Werner after the takeover was completed by NESV. [7]

Tote Bid

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]

Related Research Articles

British Midland Airways Limited was an airline with its head office in Donington Hall in Castle Donington, close to East Midlands Airport, in the United Kingdom. The airline flew to destinations in Europe, the Middle East, Africa, North America and Central Asia from its operational base at London Heathrow Airport, where at its peak it held about 13% of all takeoff and landing slots and operated over 2,000 flights a week. bmi was a member of Star Alliance from 1 July 2000 until 20 April 2012.

Tom Hicks American businessman

Thomas Ollis Hicks Sr., is an American private equity investor and sports team owner living in Dallas, Texas. Forbes magazine estimated Hicks' wealth at $1 billion in 2009, but it dropped to $700 million in 2010. Hicks co-founded the investment firm, Hicks, Muse, Tate & Furst, previously owned 50% of the English football club Liverpool F.C., and is chairman of Hicks Holdings LLC, which owns and operates Hicks Sports Group, the company that formerly owned the Texas Rangers, the Dallas Stars, and the Mesquite Championship Rodeo. In 2010, Hicks was forced to sell the Rangers and Liverpool to satisfy his creditors, and the Stars went into bankruptcy the following year.

Vueling airline based in Spain

Vueling Airlines, S.A. is a Spanish airline based at El Prat de Llobregat in Greater Barcelona with hubs in Barcelona–El Prat Airport and Leonardo da Vinci–Fiumicino Airport in Rome, Italy. It is the largest airline in Spain by fleet size and number of destinations. There are thirteen additional bases at A Coruña, Alicante, Amsterdam, Asturias, Bilbao, Florence, Gran Canaria, Málaga, Palma de Mallorca, Paris–Charles de Gaulle, Paris-Orly, Santiago de Compostela, Seville, and Valencia. It also has couple of summer seasonal bases at Ibiza and Menorca. Vueling serves over 100 destinations in Africa, Asia, Europe and the Middle East. In 2015, the airline carried more than 24 million passengers, with a load factor of 81%.

David Richard Moores is the former chairman (1991–2007) and now honorary life president of Liverpool F.C..

Stanley Park Stadium stadium

Stanley Park was a proposed football stadium in Stanley Park, Liverpool that if built, would have become home to Liverpool Football Club, replacing their current home ground Anfield. The stadium had a planned capacity of 60,000 all-seated.

John W. Henry American businessman

John William Henry II is an American businessman and investor and the founder of John W. Henry & Company, an investment management firm. He is the principal owner of The Boston Globe, the Boston Red Sox and Liverpool Football Club and co-owner of Roush Fenway Racing. In March 2006, Boston Magazine estimated Henry's net worth at $1.1 billion but noted that his company had recently experienced difficulties. In November 2012, the company announced that it would stop managing clients' money by the end of the year, and Henry confirmed that total assets under the firm's management had fallen from $2.5 billion in 2006 to less than $100 million as of late 2012. As of July 2017, Forbes estimated his net worth to be $2.6 billion.

George Nield Gillett Jr. is an American businessman. Originally from Wisconsin, he lives in Vail, Colorado. He is married and has four children.

Thomas Charles Werner is an American television producer and businessman. Via his investment in Fenway Sports Group, Tom serves as chairman of the Liverpool Football Club and the Boston Red Sox.

Dubai International Capital

Dubai International Capital (DIC) is the international investment arm of Dubai Holding, a global conglomerate and sovereign wealth fund of the government of Dubai and its ruling family. DIC invests private funds on behalf of Dubai Holding and several large third-party investors around the world with a mandate to build a portfolio of internationally diversified assets.

The Tote, formerly the Horserace Totalisator Board and called in rhyming slang the nanny, is a British bookmaker with head offices in Wigan. It was owned from its formation in 1928 by the UK Government but was sold to Betfred in July 2011. Under the brand totesport the Tote has 514 high street betting shops, outlets on most of Britain's 60 racecourses, as well as internet and call centre divisions. The company is known for its pool bets such as the Scoop6, and until July 13th 2008 was the only organisation in the UK that was allowed to run pool betting on horseracing. On July 13th 2018 Colossus Bets among others entered the UK market offering Horse racing (tote) pools also in competition with The Tote

The Liverpool F.C.–Manchester United F.C. rivalry, also known as the North West Derby, is a high-profile inter-city rivalry between English professional association football clubs Liverpool and Manchester United. It is considered to be one of the biggest rivalries in the association football world along with the Old Firm derby in Scotland, Superclásico in Argentina, El Clásico in Spain, and Derby della Madonnina in Italy, and is considered the most famous fixture in English football. Players, fans and the media alike often consider games between the two clubs to be their biggest rivalry, above even their own local derby competitions with Everton and Manchester City, respectively.

Rick Parry is the former chief executive of Liverpool Football Club, and the former head of the FA Premier League. He is currently on the board of directors at New York Cosmos (2010).

Fenway Sports Group, LLC (FSG), is an American sports company. It is the parent company of Major League Baseball's Boston Red Sox and Liverpool Football Club, a Premier League soccer team.

Christian Mark Cecil Purslow is a British businessman, co-founder of private equity firm MidOcean Partners and is the former managing director of Liverpool Football Club and the managing director and head of global commercial activities at Chelsea Football Club. He is currently chief executive of EFL Championship football club Aston Villa.

Spirit of Shankly

Spirit Of Shankly (SOS) is an unofficial supporters union for fans of Liverpool F.C.. Named after former Liverpool manager Bill Shankly, although the union was formed in early 2008 by disgruntled fans opposed to the former Liverpool F.C. ownership of Tom Hicks and George N. Gillett, Jr., it quickly developed into a cooperative representing its members on a whole range of issues such as ticketing, travel and community and regeneration issues. Its ultimate aim is to seek fan ownership of LFC in the long term.

Keith Reginald Harris is a London-based investment banker and financier with a 30-year career as a senior corporate finance and takeover advisor, having held senior executive positions at leading institutions Morgan Grenfell, Drexel Burnham Lambert, Apax Partners, and HSBC Investment Bank. He is a private equity investor with interests in varied private equity holdings in financials, media, and sport.

Terry Neill is a racehorse owner and former Liverpool FC shareholder. He hails from the Queen's Drive area of Liverpool, but by 2001 was living at Chalfont St Giles in Buckinghamshire.

References

  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. "No. 59647". The London Gazette (Supplement). 31 December 2010. p. 1.
  4. New Year Honours: Broughton and Carr business knights
  5. http://www.bashares.com/phoenix.zhtml?c=69499&p=irol-govBio&ID=87294%5Bpermanent+dead+link%5D
  6. "Profile: Sir Martin Broughton". Daily Telegraph. Telegraph Media Group. 31 December 2010. Retrieved 5 September 2013.
  7. 1 2 Pearce, James (22 November 2010). "Martin Broughton: Liverpool F.C. 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. 1 2 3 4 "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.
Business positions
Preceded by
New company
Deputy Chairman of IAG
2010 2016
Succeeded by
Preceded by
Colin Marshall, Baron Marshall of Knightsbridge
Chairman of British Airways
July 2004 December 2013
Succeeded by
Keith Williams
Preceded by
Deputy Chairman of British Airways
November 2003 July 2004
Succeeded by