Iain Vallance, Baron Vallance of Tummel
Encyclopedia
Iain David Thomas Vallance, Baron Vallance of Tummel, FRSA
(born 20 May 1943) is a British
businessman and a Liberal Democrat
politician, currently the party's spokesperson for Trade and Industry.
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 Art 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 an unfortunate statement in a speech to the Telecoms Managers Association, which led to him being called the lollipop man:
Since 2003 he has been member of the supervisory board of Siemens AG
.
He was made a Knight Bachelor
in 1994 and a life peer
with the title Baron Vallance of Tummel, of Tummel in Perth and Kinross
on 22 June 2004.
Since 1967, Vallance has been married to Elizabeth Mary McGonnigill; they have one daughter and a son.
Royal Society of Arts
The Royal Society for the encouragement of Arts, Manufacturers and Commerce is a British multi-disciplinary institution, based in London. The name Royal Society of Arts is frequently used for brevity...
(born 20 May 1943) is a British
United 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...
businessman and a Liberal Democrat
Liberal Democrats
The Liberal Democrats are a social liberal political party in the United Kingdom which supports constitutional and electoral reform, progressive taxation, wealth taxation, human rights laws, cultural liberalism, banking reform and civil liberties .The party was formed in 1988 by a merger of the...
politician, currently the party's spokesperson for Trade and Industry.
Vallance was educated at the Edinburgh Academy
Edinburgh Academy
The Edinburgh Academy is an independent school which was opened in 1824. The original building, in Henderson Row on the northern fringe of the New Town of Edinburgh, Scotland, is now part of the Senior School...
, Dulwich College
Dulwich College
Dulwich College is an independent school for boys in Dulwich, southeast London, England. The college was founded in 1619 by Edward Alleyn, a successful Elizabethan actor, with the original purpose of educating 12 poor scholars as the foundation of "God's Gift". It currently has about 1,600 boys,...
, London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
and the Glasgow Academy. In 1965 he graduated from Brasenose College, Oxford
Oxford
The city of Oxford is the county town of Oxfordshire, England. The city, made prominent by its medieval university, has a population of just under 165,000, with 153,900 living within the district boundary. It lies about 50 miles north-west of London. The rivers Cherwell and Thames run through...
with a Bachelor of Art in English language and literature, and in 1972 from the London Business School
London Business School
London Business School is an international business school and a constituent college of the federal University of London, located in central London, beside Regent's Park...
with a Master of Science
Master of Science
A Master of Science is a postgraduate academic master's degree awarded by universities in many countries. The degree is typically studied for in the sciences including the social sciences.-Brazil, Argentina and Uruguay:...
in business administration.
Vallance worked in the Post Office
Post office
A post office is a facility forming part of a postal system for the posting, receipt, sorting, handling, transmission or delivery of mail.Post offices offer mail-related services such as post office boxes, postage and packaging supplies...
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
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...
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 an unfortunate statement in a speech to the Telecoms Managers Association, which led to him being called the lollipop man:
Since 2003 he has been member of the supervisory board of Siemens AG
Siemens AG
Siemens AG is a German multinational conglomerate company headquartered in Munich, Germany. It is the largest Europe-based electronics and electrical engineering company....
.
He was made a Knight Bachelor
Knight Bachelor
The rank of Knight Bachelor is a part of the British honours system. It is the most basic rank of a man who has been knighted by the monarch but not as a member of one of the organised Orders of Chivalry...
in 1994 and a life peer
Life peer
In the United Kingdom, life peers are appointed members of the Peerage whose titles cannot be inherited. Nowadays life peerages, always of baronial rank, are created under the Life Peerages Act 1958 and entitle the holders to seats in the House of Lords, presuming they meet qualifications such as...
with the title Baron Vallance of Tummel, of Tummel in Perth and Kinross
Perth and Kinross
Perth and Kinross is one of 32 council areas in Scotland, and a Lieutenancy Area. It borders onto the Aberdeenshire, Angus, Dundee City, Fife, Clackmannanshire, Stirling, Argyll and Bute and Highland council areas. Perth is the administrative centre...
on 22 June 2004.
Since 1967, Vallance has been married to Elizabeth Mary McGonnigill; they have one daughter and a son.