Andy Hornby
Encyclopedia
Andy Hornby is an English
businessman, notable for having been the Group Chief Executive of HBOS at the time of its government-facilitated rescue by Lloyds TSB
. Currently he is Chief Executive of the bookmaker
s Coral.
, where his father was headteacher of Clifton College Preparatory School.
Hornby is the Chief Executive of Coral. Prior to joining Coral, he was Group Chief Executive of Alliance Boots
. Prior to joining Alliance Boots, he was Group Chief Executive of HBOS until the government-facilitated rescue of HBOS by Lloyds TSB Group. He has also held a range of roles at Asda, including Retail Managing Director and Managing Director of "George" clothing. He has a degree in English Literature from Oxford University and an MBA from Harvard Business School where he graduated top of his class of 800 students.
where he focused on retail, consumer goods and financial sectors. After graduating from Harvard, he joined Blue Circle Industries
where he carried out a range of general management roles. After leaving Blue Circle, he joined Asda
under CEO Archie Norman
, becoming Director of Corporate Development, Retail Managing Director, overseeing 36 stores and 14,000 employees; and then Managing Director of George whilst Allan Leighton
was CEO. In 1999 he was promoted to the Asda Management Board at the age of 32.
In November 1999 Hornby joined Halifax as Chief Executive of Retail and became Chief Executive of HBOS
Retail following the merger with Bank of Scotland
in 2001. In 2005 he was appointed Chief Operating Officer of HBOS and he became Group Chief Executive in 2006, a position which he held until the takeover by Lloyds TSB Group. For five years Hornby was a non-executive director of Home Retail Group (& previously GUS Plc) where, until standing down in July 2009, he was also Chairman of the Remuneration Committee.
On 1 July 2009, Hornby became Group Chief Executive of Alliance Boots
, an international pharmacy-led health and beauty group with over 115,000 employees and a presence in over 20 countries worldwide.
On 25 March 2011, Hornby resigned as Chief Executive of Alliance Boots. On 18 July 2011, he commenced his role as Chief Executive of Coral, which consists of a Retail estate of 1,670 betting shops, as well as an interactive business offering betting via Internet, telephone and mobile.
(Chief Executive, Pharmaceutical Wholesale Division, Alliance Boots), Alex Gourlay (Chief Executive, Health & Beauty Division, Alliance Boots), George Fairweather (Group Finance Director, Alliance Boots) and Marco Pagni (Group Legal Counsel and Chief Administrative Officer, Alliance Boots). On 25 March 2011, Alliance Boots announced that Andy Hornby was stepping down from his position.
Hornby commented: “Alliance Boots performed strongly in 2009/10, delivering a double digit trading profit growth, combined with a robust cash flow. This is a particularly good performance, given the challenging economic conditions we faced throughout the year. Although we are planning for consumer demand across Europe to remain subdued, we are confident about our prospects for the year ahead.”
. He became Chief Executive of the Retail Division of HBOS plc
. He became Chief Operating Officer
(COO) in July 2005, then CEO
in July 2006, taking over from James Crosby
. Whilst COO, he was offered the CEO job at Boots, however he declined the post and decided to remain at HBOS.
. In October 2008 he was forced by the government to resign his position.
After the takeover, Lloyds Banking Group stated that HBOS had made a pre-tax loss of £10.8bn in 2008. Subsequently retained on a "consultancy" contract by Lloyds Banking Group
On 10 February 2009, Hornby and former HBOS Chairman, Lord Stevenson of Coddenham came before the Treasury Select Committee of the House of Commons. Hornby and RBoS CEO Fred Goodwin
both admitted to having no qualifications in banking, such as those offered by the Institute of Bankers
. Hornby said:
retail chain and a subsidiary of the American retail giant, Wal-Mart
. Hornby worked for Asda from 1996–99. He joined Asda as the Director of Corporate Development and later became Retail Managing Director and subsequently Managing Director of George clothing. About his time at Asda, Hornby said he had a new job every 18 months, starting in investor relations, running the stores and being the managing director of George clothing.
2010 Annual Retail Lecture entitled “Retailing…what’s changed with the credit crunch?”, addressing the questions: What type of Retailer will be successful for the next decade? What are the most important criteria for success in Retail in the post Credit Crunch world? And what are the main challenges facing UK Retailers generally? In June of the same year he gave a presentation on “Managing a business after the credit crunch” as part of the Manchester Business School
's 2010 Vital Topics lecture series.
English people
The English are a nation and ethnic group native to England, who speak English. The English identity is of early mediaeval origin, when they were known in Old English as the Anglecynn. England is now a country of the United Kingdom, and the majority of English people in England are British Citizens...
businessman, notable for having been the Group Chief Executive of HBOS at the time of its government-facilitated rescue by Lloyds TSB
Lloyds TSB
Lloyds TSB Bank Plc is a retail bank in the United Kingdom. It was established in 1995 by the merger of Lloyds Bank, established in Birmingham, England in 1765 and traditionally considered one of the Big Four clearing banks, with the TSB Group which traces its origins to 1810...
. Currently he is Chief Executive of the bookmaker
Bookmaker
A bookmaker, or bookie, is an organization or a person that takes bets on sporting and other events at agreed upon odds.- Range of events :...
s Coral.
Biography
He was born in Scarborough, North Yorkshire, but brought up in BristolBristol
Bristol is a city, unitary authority area and ceremonial county in South West England, with an estimated population of 433,100 for the unitary authority in 2009, and a surrounding Larger Urban Zone with an estimated 1,070,000 residents in 2007...
, where his father was headteacher of Clifton College Preparatory School.
Hornby is the Chief Executive of Coral. Prior to joining Coral, he was Group Chief Executive of Alliance Boots
Alliance Boots
Alliance Boots GmbH is a leading international, pharmacy-led health and beauty group. It has two core business activities - pharmacy-led health and beauty retailing, and pharmaceutical wholesaling and distribution - and has a presence in more than 25 countries...
. Prior to joining Alliance Boots, he was Group Chief Executive of HBOS until the government-facilitated rescue of HBOS by Lloyds TSB Group. He has also held a range of roles at Asda, including Retail Managing Director and Managing Director of "George" clothing. He has a degree in English Literature from Oxford University and an MBA from Harvard Business School where he graduated top of his class of 800 students.
Career
Hornby started his career with Boston Consulting GroupBoston Consulting Group
The Boston Consulting Group is a global management consulting firm with offices in 42 countries. It is recognized as one of the most prestigious management consulting firms in the world. It is one of only three companies to appear in the top 15 of Fortunes "Best Companies to Work For" report for...
where he focused on retail, consumer goods and financial sectors. After graduating from Harvard, he joined Blue Circle Industries
Blue Circle Industries
Blue Circle Industries was a British public company manufacturing cement. It was founded in 1900, and was bought out by the French company Lafarge in 2001.-History:...
where he carried out a range of general management roles. After leaving Blue Circle, he joined Asda
Asda
Asda Stores Ltd is a British supermarket chain which retails food, clothing, general merchandise, toys and financial services. It also has a mobile telephone network, , Asda Mobile...
under CEO Archie Norman
Archie Norman
Archibald John Norman is a British businessman and politician. He is at present the only FTSE 100 chairman to have sat in the House of Commons. On 18 November 2009, Norman was announced as the new chairman of ITV plc...
, becoming Director of Corporate Development, Retail Managing Director, overseeing 36 stores and 14,000 employees; and then Managing Director of George whilst Allan Leighton
Allan Leighton
Allan Leighton is an English businessman, former CEO of Asda and former non-executive Chairman of the Royal Mail.-Biography:Born in Hereford, the son of a Co-op stores manager, he was raised in Oxford...
was CEO. In 1999 he was promoted to the Asda Management Board at the age of 32.
In November 1999 Hornby joined Halifax as Chief Executive of Retail and became Chief Executive of HBOS
HBOS
HBOS plc is a banking and insurance company in the United Kingdom, a wholly owned subsidiary of the Lloyds Banking Group having been taken over in January 2009...
Retail following the merger with Bank of Scotland
Bank of Scotland
The Bank of Scotland plc is a commercial and clearing bank based in Edinburgh, Scotland. With a history dating to the 17th century, it is the second oldest surviving bank in what is now the United Kingdom, and is the only commercial institution created by the Parliament of Scotland to...
in 2001. In 2005 he was appointed Chief Operating Officer of HBOS and he became Group Chief Executive in 2006, a position which he held until the takeover by Lloyds TSB Group. For five years Hornby was a non-executive director of Home Retail Group (& previously GUS Plc) where, until standing down in July 2009, he was also Chairman of the Remuneration Committee.
On 1 July 2009, Hornby became Group Chief Executive of Alliance Boots
Alliance Boots
Alliance Boots GmbH is a leading international, pharmacy-led health and beauty group. It has two core business activities - pharmacy-led health and beauty retailing, and pharmaceutical wholesaling and distribution - and has a presence in more than 25 countries...
, an international pharmacy-led health and beauty group with over 115,000 employees and a presence in over 20 countries worldwide.
On 25 March 2011, Hornby resigned as Chief Executive of Alliance Boots. On 18 July 2011, he commenced his role as Chief Executive of Coral, which consists of a Retail estate of 1,670 betting shops, as well as an interactive business offering betting via Internet, telephone and mobile.
Timeline
| Year | Role |
|---|---|
| 1988 | Boston Consulting Group Boston Consulting Group The Boston Consulting Group is a global management consulting firm with offices in 42 countries. It is recognized as one of the most prestigious management consulting firms in the world. It is one of only three companies to appear in the top 15 of Fortunes "Best Companies to Work For" report for...
|
| 1993 | Blue Circle Industries Blue Circle Industries Blue Circle Industries was a British public company manufacturing cement. It was founded in 1900, and was bought out by the French company Lafarge in 2001.-History:... |
| 1996 | Asda Asda Asda Stores Ltd is a British supermarket chain which retails food, clothing, general merchandise, toys and financial services. It also has a mobile telephone network, , Asda Mobile... Roles held:
|
| 1999 | Halifax
|
| 2001 | HBOS HBOS HBOS plc is a banking and insurance company in the United Kingdom, a wholly owned subsidiary of the Lloyds Banking Group having been taken over in January 2009... Roles held:
|
| 2004 | Home Retail Group (Formerly GUS plc)
Roles held:
|
| 2009 | Alliance Boots Alliance Boots Alliance Boots GmbH is a leading international, pharmacy-led health and beauty group. It has two core business activities - pharmacy-led health and beauty retailing, and pharmaceutical wholesaling and distribution - and has a presence in more than 25 countries... Roles held:
|
| 2011 | Coral
Roles held:
|
Gala Coral
Andy Hornby joined Gala Coral Group on 18 July 2011 as Chief Executive of Coral. Rob Templeman, Chairman of Gala Coral, said :Alliance Boots
Hornby joined Alliance Boots on 1 July 2009 as Group Chief Executive. He worked in a collegiate manner under Stefano Pessina’s leadership with the other members of the Executive Committee: Ornella BarraOrnella Barra
Ornella Barra is an Italian businesswoman. A Board Member of Alliance Boots and a qualified pharmacist, she has been involved in the healthcare industry for her entire career and is currently Chief Executive of the Pharmaceutical Wholesale Division of Alliance Healthcare...
(Chief Executive, Pharmaceutical Wholesale Division, Alliance Boots), Alex Gourlay (Chief Executive, Health & Beauty Division, Alliance Boots), George Fairweather (Group Finance Director, Alliance Boots) and Marco Pagni (Group Legal Counsel and Chief Administrative Officer, Alliance Boots). On 25 March 2011, Alliance Boots announced that Andy Hornby was stepping down from his position.
Financial results
In his first year as Group Chief Executive, Hornby presented the Alliance Boots preliminary results announcement for the year ended 31 March 2010. Alliance Boots reported:- Revenue (including share of associates and joint ventures) up 9.6% to £22.5 billion
- EBITDA (including share of associates and joint ventures) up 9.2% to £1,360 million
- Trading profit (including share of associates and joint ventures) up 12.7% to £1,074 million
Hornby commented: “Alliance Boots performed strongly in 2009/10, delivering a double digit trading profit growth, combined with a robust cash flow. This is a particularly good performance, given the challenging economic conditions we faced throughout the year. Although we are planning for consumer demand across Europe to remain subdued, we are confident about our prospects for the year ahead.”
HBOS
On 1 November 1999, he joined the Halifax as Chief Executive of Halifax Retail. In September 2001, the bank merged with the Bank of ScotlandBank of Scotland
The Bank of Scotland plc is a commercial and clearing bank based in Edinburgh, Scotland. With a history dating to the 17th century, it is the second oldest surviving bank in what is now the United Kingdom, and is the only commercial institution created by the Parliament of Scotland to...
. He became Chief Executive of the Retail Division of HBOS plc
HBOS
HBOS plc is a banking and insurance company in the United Kingdom, a wholly owned subsidiary of the Lloyds Banking Group having been taken over in January 2009...
. He became Chief Operating Officer
Chief operating officer
A Chief Operating Officer or Director of Operations can be one of the highest-ranking executives in an organization and comprises part of the "C-Suite"...
(COO) in July 2005, then CEO
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
in July 2006, taking over from James Crosby
James Crosby (FSA)
Sir James Robert Crosby was Deputy Chairman of the Financial Services Authority from January 2004 until he resigned on 11 February 2009...
. Whilst COO, he was offered the CEO job at Boots, however he declined the post and decided to remain at HBOS.
Banking crisis
In September 2008 he was Chief Executive Officer of HBOS when it was near to bankruptcy. The bank agreed to be taken over by rival Lloyds TSBLloyds TSB
Lloyds TSB Bank Plc is a retail bank in the United Kingdom. It was established in 1995 by the merger of Lloyds Bank, established in Birmingham, England in 1765 and traditionally considered one of the Big Four clearing banks, with the TSB Group which traces its origins to 1810...
. In October 2008 he was forced by the government to resign his position.
After the takeover, Lloyds Banking Group stated that HBOS had made a pre-tax loss of £10.8bn in 2008. Subsequently retained on a "consultancy" contract by Lloyds Banking Group
On 10 February 2009, Hornby and former HBOS Chairman, Lord Stevenson of Coddenham came before the Treasury Select Committee of the House of Commons. Hornby and RBoS CEO Fred Goodwin
Fred Goodwin
Sir Frederick Anderson Goodwin CA, FCIBS is a Scottish chartered accountant and former banker who was chief executive of the Royal Bank of Scotland Group between 2001 and 2009....
both admitted to having no qualifications in banking, such as those offered by the Institute of Bankers
Institute of Bankers
The ifs School of Finance, founded in 1879 as the Institute of Bankers, is a registered educational charity incorporated by Royal Charter...
. Hornby said:
Asda
Asda is a large BritishUnited Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
retail chain and a subsidiary of the American retail giant, Wal-Mart
Wal-Mart
Wal-Mart Stores, Inc. , branded as Walmart since 2008 and Wal-Mart before then, is an American public multinational corporation that runs chains of large discount department stores and warehouse stores. The company is the world's 18th largest public corporation, according to the Forbes Global 2000...
. Hornby worked for Asda from 1996–99. He joined Asda as the Director of Corporate Development and later became Retail Managing Director and subsequently Managing Director of George clothing. About his time at Asda, Hornby said he had a new job every 18 months, starting in investor relations, running the stores and being the managing director of George clothing.
Blue Circle Industries
Blue Circle Industries was founded in 1900 as Associated Portland Cement Manufacturers Ltd. The company was located on the Thames estuary near London. In 2001 Blue Circle was acquired by Lafarge, which became the world's largest cement manufacturer.Boston Consulting Group
Hornby began his career at Boston Consulting Group. Since its inception in 1963, BCG has been at the forefront of business management. BCG prides itself on being an industry leader in issues at the vanguard of management thinking and practice, such as global advantage, value management, sustainability, and networks.Speaking engagements
On 18 May 2010 Hornby delivered the British Retail ConsortiumBritish Retail Consortium
The British Retail Consortium is one of the leading trade associations in the United Kingdom. They represent all forms of retailers from small, independently owned stores, to big chain stores and department stores...
2010 Annual Retail Lecture entitled “Retailing…what’s changed with the credit crunch?”, addressing the questions: What type of Retailer will be successful for the next decade? What are the most important criteria for success in Retail in the post Credit Crunch world? And what are the main challenges facing UK Retailers generally? In June of the same year he gave a presentation on “Managing a business after the credit crunch” as part of the Manchester Business School
Manchester Business School
Manchester Business School is the largest department of the University of Manchester in Manchester, England. According to Bloomberg Business Week's ranking of the world's best business schools the MBS MBA is ranked third in the world...
's 2010 Vital Topics lecture series.
See also
- James Crosby
- 2008 United Kingdom bank rescue package2008 United Kingdom bank rescue packageA bank rescue package totalling some £500 billion was announced by the British government on 8 October 2008, as a response to the ongoing global financial crisis. After two unsteady weeks at the end of September, the first week of October had seen major falls in the stock market and severe worries...
External links
- Alliance Boots
- Identity fraud in August 2008
- The Guardian article, 29 April 2008
- The Guardian article, 19 February 2005
- Halifax Courier, 14 October 2008
Video clips
- http://news.bbc.co.uk/1/hi/business/7601459.stm Interviewed by Robert PestonRobert PestonRobert Peston is a British journalist. Since February 2006, he has been the Business Editor for BBC News. He became known to a wider public with his reporting of the late-2000s financial crisis, especially with his scoop on the Northern Rock crisis.-Early life and education:Peston is the son of...
in Leading Questions, September 2008 - http://news.sky.com/skynews/Home/Business/HBOS-Alliance-Boots-Andy-Hornby-Tells-Of-Dark-Times-During-The-Banking-Crisis/Article/201005315633906 Interviewed by Jeff Randall on Sky News 17 May 2010
- http://link.brightcove.com/services/player/bcpid63791276001?bctid=167597705001 Hornby interviewed by Chemist and Druggist.