Michael Bishop (businessman)
Encyclopedia
Michael David Bishop, Baron Glendonbrook CBE
(born 10 February 1942) is a British
businessman and life peer
who rose to prominence as owner of the airline BMI
. He sold his stake in the airline to Lufthansa
on 1 July 2009 and has an estimated personal fortune of £480 million. He was one of the country's first openly gay senior executives.
, then part of Cheshire
, next to Manchester Airport. The son of a factory boss, aged six he was given a pleasure flight, and in 1949 his parents took him on an Aer Lingus
flight to Dublin in search of chocolate
, a rarity in the post-war rationing
in Manchester.
Educated at the independent Mill Hill School
in north London
, he enjoyed flying and as a result took a series of school holiday jobs with an aerial photographer
.
(later re-branded as BMI) in October 1964. Bishop joined British Midland, and rose to become General Manager of the airline in 1969 and Managing Director in 1972.
In 1978, the London-based Minster Assets investment group, which owned British Midland, decided to sell its stake. With the help of an entrepreneurial California
dentist
, Bishop raised £2.5 million to lead the management buy-out, and was subsequently appointed chairman: "I had to borrow the money from an American citizen. Most venture capitalists want a return of 40% to make up for all their other failures, and they want an exit strategy." Since 1969, he has been the key driving force behind the steady growth of the airline, which now holds a 11% share of the landing and take-off slots at London Heathrow airport (second only to British Airways
), with a route network spanning Europe, North America, Asia and Africa.
Bishop formerly held a controlling 50% + 1 share stake of BMI, with German
airline Lufthansa
holding 30% minus 1 share, and SAS Airlines
a further 20%. In October 2008, under a deal agreed in 1999 as part of the package for BMI to join the Star Alliance
, Bishop agreed to sell his 50% stake to Lufthansa for an undisclosed sum, though reports suggested it was about £318m. BDLH (LH's holding vehicle) acquired Bishop's share on 1 July 2009, assuming full control of the company.
television, becoming chairman from 1993 to 1997. He was also a board member at Sir Nigel Rudd's
Williams plc., and deputy chairman at Airtours.
In 1986, he was awarded the CBE
, and in 1991 he was knighted. He was awarded an Honorary Degree of Doctor of Laws from the University of Leicester
on 12 July 2007.
In an annual survey by The Independent
of the UK's most influential gay men and women, Bishop was ranked as number 5 in 2005 and number 6 in 2006.
On 1 February 2011, Bishop was created a life peer
as Baron Glendonbrook, of Bowdon
in the County of Cheshire
, and was introduced
in the House of Lords
on 22 March 2011, where he sits as a Conservative
.
since the age of 17, he is chairman of the Board of Trustees of the D'Oyly Carte Opera Company
—which performs the operas of Gilbert and Sullivan
—due to his personal financial sponsorship. Glendonbrook lives in London
.
Order of the British Empire
The Most Excellent Order of the British Empire is an order of chivalry established on 4 June 1917 by George V of the United Kingdom. The Order comprises five classes in civil and military divisions...
(born 10 February 1942) 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 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...
who rose to prominence as owner of the airline BMI
Bmi (airline)
British Midland Airways Limited , is an airline based at Donington Hall in Castle Donington in the United Kingdom, close to East Midlands Airport, and a fully owned subsidiary of Lufthansa...
. He sold his stake in the airline to Lufthansa
Lufthansa
Deutsche Lufthansa AG is the flag carrier of Germany and the largest airline in Europe in terms of overall passengers carried. The name of the company is derived from Luft , and Hansa .The airline is the world's fourth-largest airline in terms of overall passengers carried, operating...
on 1 July 2009 and has an estimated personal fortune of £480 million. He was one of the country's first openly gay senior executives.
Early life
Michael Bishop was born in Bowdon, Greater ManchesterBowdon, Greater Manchester
Bowdon is a suburban village and electoral ward in the Altrincham area of the Metropolitan Borough of Trafford, in Greater Manchester, England.-History:...
, then part of Cheshire
Cheshire
Cheshire is a ceremonial county in North West England. Cheshire's county town is the city of Chester, although its largest town is Warrington. Other major towns include Widnes, Congleton, Crewe, Ellesmere Port, Runcorn, Macclesfield, Winsford, Northwich, and Wilmslow...
, next to Manchester Airport. The son of a factory boss, aged six he was given a pleasure flight, and in 1949 his parents took him on an Aer Lingus
Aer Lingus
Aer Lingus Group Plc is the flag carrier of Ireland. It operates a fleet of Airbus aircraft serving Europe and North America. It is Ireland's oldest extant airline, and its second largest after low-cost rival Ryanair...
flight to Dublin in search of chocolate
Chocolate
Chocolate is a raw or processed food produced from the seed of the tropical Theobroma cacao tree. Cacao has been cultivated for at least three millennia in Mexico, Central and South America. Its earliest documented use is around 1100 BC...
, a rarity in the post-war rationing
Rationing
Rationing is the controlled distribution of scarce resources, goods, or services. Rationing controls the size of the ration, one's allotted portion of the resources being distributed on a particular day or at a particular time.- In economics :...
in Manchester.
Educated at the independent Mill Hill School
Mill Hill School
Mill Hill School, in Mill Hill, London, is a coeducational independent school for boarding and day pupils aged 13–18. It is a member of the Headmasters' and Headmistresses' Conference, an organisation of public schools in the United Kingdom....
in north 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...
, he enjoyed flying and as a result took a series of school holiday jobs with an aerial photographer
Aerial photography
Aerial photography is the taking of photographs of the ground from an elevated position. The term usually refers to images in which the camera is not supported by a ground-based structure. Cameras may be hand held or mounted, and photographs may be taken by a photographer, triggered remotely or...
.
British Midland
In 1963, Bishop joined the ground handling operation of Manchester-based Mercury Airlines, a schedule and charter airline, which was taken over by British Midland AirwaysBmi (airline)
British Midland Airways Limited , is an airline based at Donington Hall in Castle Donington in the United Kingdom, close to East Midlands Airport, and a fully owned subsidiary of Lufthansa...
(later re-branded as BMI) in October 1964. Bishop joined British Midland, and rose to become General Manager of the airline in 1969 and Managing Director in 1972.
In 1978, the London-based Minster Assets investment group, which owned British Midland, decided to sell its stake. With the help of an entrepreneurial California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
dentist
Dentist
A dentist, also known as a 'dental surgeon', is a doctor that specializes in the diagnosis, prevention, and treatment of diseases and conditions of the oral cavity. The dentist's supporting team aides in providing oral health services...
, Bishop raised £2.5 million to lead the management buy-out, and was subsequently appointed chairman: "I had to borrow the money from an American citizen. Most venture capitalists want a return of 40% to make up for all their other failures, and they want an exit strategy." Since 1969, he has been the key driving force behind the steady growth of the airline, which now holds a 11% share of the landing and take-off slots at London Heathrow airport (second only to British Airways
British Airways
British Airways is the flag carrier airline of the United Kingdom, based in Waterside, near its main hub at London Heathrow Airport. British Airways is the largest airline in the UK based on fleet size, international flights and international destinations...
), with a route network spanning Europe, North America, Asia and Africa.
Bishop formerly held a controlling 50% + 1 share stake of BMI, with German
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
airline Lufthansa
Lufthansa
Deutsche Lufthansa AG is the flag carrier of Germany and the largest airline in Europe in terms of overall passengers carried. The name of the company is derived from Luft , and Hansa .The airline is the world's fourth-largest airline in terms of overall passengers carried, operating...
holding 30% minus 1 share, and SAS Airlines
SAS Group
Scandinavian Airlines System Aktiebolag , trading as SAS Group and SAS AB, is a holding company based in Solna, Sweden. It is the parent company of the airlines Scandinavian Airlines, Blue1 and Widerøe, and the aviation services companies SAS Business Opportunities, SAS Cargo Group, SAS Ground...
a further 20%. In October 2008, under a deal agreed in 1999 as part of the package for BMI to join the Star Alliance
Star Alliance
Star Alliance is the world's first and largest airline alliance, headquartered in Frankfurt am Main, Germany . The alliance was founded in 1997 by five of the world's leading airlines: Air Canada, Lufthansa, Scandinavian Airlines, Thai Airways International and United Airlines...
, Bishop agreed to sell his 50% stake to Lufthansa for an undisclosed sum, though reports suggested it was about £318m. BDLH (LH's holding vehicle) acquired Bishop's share on 1 July 2009, assuming full control of the company.
Honours and appointments
Between 1991 and 1993, Bishop was deputy chairman of Channel 4Channel 4
Channel 4 is a British public-service television broadcaster which began working on 2 November 1982. Although largely commercially self-funded, it is ultimately publicly owned; originally a subsidiary of the Independent Broadcasting Authority , the station is now owned and operated by the Channel...
television, becoming chairman from 1993 to 1997. He was also a board member at Sir Nigel Rudd's
Nigel Rudd
Sir Nigel Rudd is a Fellow of the Institute of Chartered Accountants. In 1982, he founded Williams Holdings, a company which went on to become one of the largest industrial holding companies in the United Kingdom until its demerger in November 2000, creating Chubb plc and Kidde plc...
Williams plc., and deputy chairman at Airtours.
In 1986, he was awarded the CBE
Order of the British Empire
The Most Excellent Order of the British Empire is an order of chivalry established on 4 June 1917 by George V of the United Kingdom. The Order comprises five classes in civil and military divisions...
, and in 1991 he was knighted. He was awarded an Honorary Degree of Doctor of Laws from the University of Leicester
University of Leicester
The University of Leicester is a research-led university based in Leicester, England. The main campus is a mile south of the city centre, adjacent to Victoria Park and Wyggeston and Queen Elizabeth I College....
on 12 July 2007.
In an annual survey by The Independent
The Independent
The Independent is a British national morning newspaper published in London by Independent Print Limited, owned by Alexander Lebedev since 2010. It is nicknamed the Indy, while the Sunday edition, The Independent on Sunday, is the Sindy. Launched in 1986, it is one of the youngest UK national daily...
of the UK's most influential gay men and women, Bishop was ranked as number 5 in 2005 and number 6 in 2006.
On 1 February 2011, Bishop was created 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...
as Baron Glendonbrook, of Bowdon
Bowdon, Greater Manchester
Bowdon is a suburban village and electoral ward in the Altrincham area of the Metropolitan Borough of Trafford, in Greater Manchester, England.-History:...
in the County of Cheshire
Cheshire
Cheshire is a ceremonial county in North West England. Cheshire's county town is the city of Chester, although its largest town is Warrington. Other major towns include Widnes, Congleton, Crewe, Ellesmere Port, Runcorn, Macclesfield, Winsford, Northwich, and Wilmslow...
, and was introduced
Introduction (House of Lords)
Introduction is a ceremony in the House of Lords whereby new members are "introduced" to the existing membership. Introductions in the Lords are more elaborate than those in the House of Commons.-Origins:...
in the House of Lords
House of Lords
The House of Lords is the upper house of the Parliament of the United Kingdom. Like the House of Commons, it meets in the Palace of Westminster....
on 22 March 2011, where he sits as a Conservative
Conservative Party (UK)
The Conservative Party, formally the Conservative and Unionist Party, is a centre-right political party in the United Kingdom that adheres to the philosophies of conservatism and British unionism. It is the largest political party in the UK, and is currently the largest single party in the House...
.
Personal life
Bishop is openly gay and, since 2008, has spoken out publicly about gay rights and success in the workplace. Bishop is often referred to as "dapper" by the press to note his keen sense of elegance. A member of the Conservative PartyConservative Party (UK)
The Conservative Party, formally the Conservative and Unionist Party, is a centre-right political party in the United Kingdom that adheres to the philosophies of conservatism and British unionism. It is the largest political party in the UK, and is currently the largest single party in the House...
since the age of 17, he is chairman of the Board of Trustees of the D'Oyly Carte Opera Company
D'Oyly Carte Opera Company
The D'Oyly Carte Opera Company was a professional light opera company that staged Gilbert and Sullivan's Savoy operas. The company performed nearly year-round in the UK and sometimes toured in Europe, North America and elsewhere, from the 1870s until it closed in 1982. It was revived in 1988 and...
—which performs the operas of Gilbert and Sullivan
Gilbert and Sullivan
Gilbert and Sullivan refers to the Victorian-era theatrical partnership of the librettist W. S. Gilbert and the composer Arthur Sullivan . The two men collaborated on fourteen comic operas between 1871 and 1896, of which H.M.S...
—due to his personal financial sponsorship. Glendonbrook lives in 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...
.