Sir Philip Roy Hampton is the chairman of J Sainsbury plc, parent company of the Sainsbury's chain of supermarkets. He also became chairman of the Royal Bank of Scotland, on the 19th of January 2009.
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Biography
Hampton gained an MA in English from Lincoln College, Oxford University.[1] He joined Coopers & Lybrand in 1975, qualified as a chartered accountant in 1978, and then trained as an auditor, working in London and West Africa.[1] He took an MBA from INSEAD from 1980-81,[1] and returned to join Lazards investment bank for nine years.[2] Working on mergers, acquisitions, business restructurings and capital markets; in 1986 he was seconded to Lazard Freres, New York, and also worked extensively with Lazard Freres in Paris.[1]
Since then Hampton has been:
- British Steel - Group Finance Director from 1990 to 1995. The company were a former client at Lazards
- British Gas - Group Finance Director from 1995 to 1997. Oversaw double-demerger of Centrica and then Lattice Group[3]
- BG Group - Group Finance Director from 1997 to 2000
- British Telecom - Group Finance Director from 2000 to 2002
- Lloyds TSB - Group Finance Director from 2002 to 2004
Hampton was appointed Chairman of J Sainsbury plc on 19 July 2004 to replace Sir Peter Davis. His appointment came at a significant time for the retailer; Davis had been forced out as Chairman by shareholders due to an extremely generous bonus package despite his dubious performance as Chairman and previously as CEO, another shareholder revolt in February 2004 had caused the company to abandon the appointment of Sir Ian Prosser as Chairman and Justin King had been appointed Chief Executive in March 2004. Hampton was described by then BBC Business Editor Jeff Randall as "a well respected City figure" and a "safe pair of hands". Under the King/Hampton leadership Sainsbury's regained some market share and in June 2006 reported its highest sales increase in four years.[4]
In the 2004 Budget Philip Hampton was asked to lead a review of regulatory inspection and enforcement. This review produced the Hampton Report, which led to the Regulatory Enforcement and Sanctions Act 2008. On November 3, 2008, Philip Hampton was appointed as chairman of UK Financial Investments Limited, the firm set up to manage the UK government's shareholding in banks subscribing to its recapitalisation fund.
Hampton was knighted in the New Year Honours 2007.
The RBS Board Revolt
In December, 2009, the board of RBS warned their major shareholder, the British public, that they would resign unless they were permitted to pay bonuses of £1.5bn to staff in its investment arm [5]. The matter received heavy criticism because it followed a £850bn taxpayer bailout of the banking system.
Personal life
A keen sailor, the father of two teenage sons has taken part in the ARC transatlantic yacht race.
References
- ^ a b c d "Philip Hampton". HM Treasury. http://www.hm-treasury.gov.uk/hampton_biography.htm. Retrieved -2009-01-19.
- ^ http://business.timesonline.co.uk/tol/business/industry_sectors/retailing/article2492703.ece
- ^ http://www.independent.co.uk/news/business/news/philip-hampton-to-quit-struggling-bt-within-year-615887.html
- ^ http://today.reuters.co.uk/news/newsArticle.aspx?type=businessNews&storyID=2006-06-21T085610Z_01_LAD002533_RTRUKOC_0_UK-RETAIL-SAINSBURY.xml&archived=False
- ^ [1]
External links
- HAMPTON, Philip International Who's Who. accessed September 3, 2006.
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