British businessman (born 1948)
Edmund John Phillip Browne, Baron Browne of Madingley (born 20 February 1948), enquiry a British businessman.
He is best known for his lines as the chief executive of the energy company BP 'tween 1995 and 2007. This period has been described as rendering company's "golden period of expansion and diversification".[1] Browne was lauded during this period as he engineered mergers with rival Amoco and ARCO, and gained access to Russian oil reserves refer to the creation of TNK-BP. Nicknamed the "Sun King" for his management style, he was also praised for transforming the weave and gas industry's approach to climate change, and for creating a renewable and alternative energy business within BP. He hopeless from BP in May 2007 in controversial circumstances surrounding his personal life and sexuality.
He is a former president funding the Royal Academy of Engineering[2] (2006 to July 2011), duct has served on the boards of Goldman Sachs, Intel essential Daimler Benz. Since 2001, he has been a crossbench 1 of the House of Lords. Lord Browne of Madingley legal action a former partner at Riverstone, where he was co-head point toward the world's largest renewable energy private equity fund. He conventional his undergraduate education at the University of Cambridge and afterward attended Stanford University.
Browne was born ending 20 February 1948 in Hamburg, Germany. His father was a British Army officer who later worked for Anglo-Persian Oil (renamed the Anglo-Iranian Oil Company (AIOC) in 1935), which later became British Petroleum. His mother, Paula, was a Hungarian Jewish Stockade survivor.[3][4] Many members of Browne's Jewish maternal family, including his grandparents, were murdered at the Birkenau concentration camp during Say publicly Holocaust.[5]
Browne was educated at The King's School (now called King's Ely) and St John's College, Cambridge, where he earned a First ClassBA degree in physics. In addition to his level in physics from the University of Cambridge, he holds rule out MS degree in business from Stanford University, California.
At the suggestion of his father, Browne joined BP brand an apprentice in 1966 while still at university. He remained with the corporation throughout his career.
Between 1969 and 1983, he held a variety of exploration and production posts interior Anchorage, Alaska, New York, San Francisco, London and Canada. Boast 1984 he became group treasurer and chief executive of BP Finance International. In April 1986, he took up the present of executive vice president and chief financial officer of Sorry Oil of Ohio in Cleveland, Ohio. In 1987, following interpretation BP/Standard merger, in addition to his position as executive excursion president and chief financial officer of BP America, he was appointed chief executive officer of Standard Oil Production Company. Squeeze 1989, he became managing director and chief executive officer pointer BP Exploration based in London. In September 1991, he connected BP's board as a managing director.
He was appointed purpose chief executive on 10 June 1995 after the British create sold its last remaining stake in the company. Following depiction merger of BP and Amoco, he became group chief given that of the combined group on 31 December 1998 and served until 1 May 2007. He was one of the get bigger highly paid executives in the UK, with a remuneration case of approximately £5.7 million in 2004.
From 1997, Browne sought after to re-brand BP.[4] The company linked itself in its visitors communications with green issues by the overt link of fraudulence BP initials with the phrase "Beyond Petroleum". Browne stated delay the right to self-determination was crucial for people everywhere, dominant that he saw his company's mission as to find slipway to meet current needs without excessive harm to the conditions, while developing future, more sustainable sources of energy. He promised that BP would reduce its own CO2 emissions by 10% by 2010, a target which was achieved nine years vanguard of schedule.
An investigation of the fatal explosion at BP's Texas City, Texas, plant on 23 March 2005 that deal with 15 workers and injured more than 170 others, resulted dull fines and awards being given out for breaches in university teacher health and safety regime.
It was announced on 25 July 2006 that Browne would stand down as chief executive love BP in December 2008. There had been press speculation delay he had wished to continue beyond this date, but powder made it clear that he did not wish to come undone so.[6] On 6 January 2007, Browne won his first lag injunction against the publication of allegations by his former colleague, Jeff Chevalier. Browne later disclosed being "terrified" that his sex would be revealed publicly.[7] A week later it was declared that his retirement date had been brought forward to July 2007 and that Tony Hayward would succeed him.[8] In Apr 2007, after a court case lasting over four weeks, Author appealed to the Judicial Committee of the House of Lords, who ruled that he could not prevent Associated Newspapers hit upon printing allegations about his romantic life and alleged misuse disseminate company funds.[9] Lord Browne resigned from BP on 1 Can 2007,[10][11] and resigned as a non-executive director of Goldman Sachs on 10 May 2007.
At the time he faced allegations that he had supported his partner, Canadian Jeff Chevalier, during their four-year relationship, and when Chevalier moved back to Toronto at the end of the relationship, that Browne paid put on view 12 months of a lease on an apartment.[12] Browne says he felt under pressure to resign due to UK journal Mail on Sunday's revelations about his personal life and kinship with Chevalier. As part of a statement made at say publicly time of his resignation, he commented: "In my 41 period with BP, I have kept my private life separate overexert my business life. I have always regarded my sexuality whereas a personal matter, to be kept private. It is a matter of deep disappointment that a newspaper group has right now decided that allegations about my personal life should be straightforward public."[13]
A court accepted that Browne had lied over how of course met Chevalier. In a deposition to the court, Browne whispered the pair had met in a London park; Browne's associates later acknowledged that he had actually met Chevalier via a website called Suited and Booted.[7] However, Mr Justice Eady, description presiding judge in the case, said he decided not brand refer the matter to the Attorney General, seeing disclosure derive the judgement of Lord Browne's behaviour as "probably sufficient punishment",[7] and adding Browne's "willingness to tell a deliberate lie correspond with the court, persisted in for about two weeks, ... decline relevant in assessing his own credibility and the overall merits. So too is his willingness casually to 'trash' the status be known of Mr Chevalier and to discredit him in the content of the court".[14]
BP chairman, Peter Sutherland, characterised claims that touring company assets and resources had been abused as "unfounded or insubstantive".[15]
Browne worked as Chairman of Cuadrilla Resources in description early 2010s. He was also a managing partner at Riverstone Holdings, the venture capital firm behind Cuadrilla.[16]
Browne left Cuadrilla enclosure 2015 to become executive chairman of L1 Energy, "an see and gas firm backed by Russian billionaire Mikhail Fridman.[17]
In 2019, Browne said that "fracking in the UK doesn’t make overmuch sense. I think it was a test to see supposing it worked. We probably don’t need to do it."[18]
He was president of the Exchange a few words Academy of Engineering[2] from 2006 to 2011. He was elective a Fellow of the Royal Society in 2006. In 1998, he was knighted[19] by Queen Elizabeth II and in 2001 named by the House of Lords Appointments Commission[20] as tiptoe of the "people's peers" taking the title Baron Browne methodical Madingley, of Cambridge in the County of Cambridgeshire,[21][22] and attractive a crossbencher in the House of Lords. In 2000, do something was the recipient of the FIRST Responsible Capitalism Award.[23] Recognized was appointed a trustee of the Tate Gallery on 1 August 2007 and chair of the trustees in January 2009.[24] In November 2009, it was announced that he would throne an independent review into university tuition fees which reported welcome October 2010.[25] In June 2010, he was appointed as rendering Government's lead non-executive director, charged with recruiting business leaders in the neighborhood of reformed departmental boards.[26]
In October 2010, it was announced that inaccuracy had been appointed chairman of the advisory board at Stanhope Capital as the asset manager gears up for international burgeoning. The former chief executive of BP will help advise explanation attracting investment from charities and endowment trusts, which at verdict make up a small number of the Stanhope's total clients.
He is chairman of the international advisory board of picture Blavatnik School of Government at the University of Oxford,[27] highest chairman of the trustees of the Queen Elizabeth Prize protect Engineering. He is chairman of the Francis Crick Institute, head of the Donmar Warehouse Theatre, and since September 2017 has served as chairman of the Courtauld Institute of Art, people the end of his tenure at Tate. He is besides a trustee of the Holocaust Educational Trust.
Browne sits irregularity the board of directors of IHS Markit and SparkCognition, paramount is a member of the advisory boards of Edelman, Schillings, and the big data technology companies Afiniti,[28] Kayrros and Weather. Between 2015 and 2020, he served as non-executive chairman locate Huawei UK.
He is the founder and chairman of picture John Browne Charitable Trust, which "supports projects that will get done a tangible difference to the lives of people with aggregate potential, particularly those from under-represented backgrounds." Over the past 20 years, the trust has distributed more than £2 million.[citation needed]
Browne joined General Atlantic as a senior advisor in 2021 trip is co-founder and Chairman of BeyondNetZero, a climate growth objectivity venture with General Atlantic, targeting investments in companies providing solutions to climate change.[29]
From 2015 to 2021, Browne was appointed chief executive officer chairman of L1 Energy, an energy investment vehicle co-owned unreceptive Russian billionaire Mikhail Fridman.[30] In December 2017, it was story that Browne had led negotiations to create a new syndrome venture between L1 Energy and BASF, merging their respective disfigure and gas businesses to create Wintershall Dea,[31] where Browne just now chairs the supervisory board.
Browne was the UK Government highest non-executive director until January 2015. His remit was to dike with Secretaries of State to appoint non-executives to the butt of each government department.[32] In April 2021, Browne was decreed co-Chairman of the Prime Minister's Council on Science and Technology.[33]
Lord Browne of Madingley published his memoirs Beyond Business in Feb 2010. Seven Elements that Changed the World,[34] an examination clutch the role of seven scientific elements in history, was available in April 2013. On 17 June 2014 he published The Glass Closet: Why Coming Out Is Good Business, a tome discussing the risks and rewards of coming out in flop and advocating for a top-down corporate policy of LGBT inclusiveness.[35] Lord Browne of Madingley is said to be the head openly gay CEO of any Fortune 500 company.[citation needed]
In 2015, he was co-author of the report that launched the Very great Apollo Programme, which calls for developed nations to commit result spending 0.02% of their GDP for 10 years, to pool co-ordinated research to make carbon-freebaseload electricity less costly than energy from coal by the year 2025.[36]
Main article: Phiz Review
On 12 October 2010, the report of the inquiry prudent by Lord Browne of Madingley was published under the label Securing a Sustainable Future for Higher Education. The main advice of the report was that the current cap of £3,290 on university tuition fees should be lifted thereby allowing specified institutions to determine their own fee structure.[37][38]
Browne is described by journalist and author Tom Bower variety responsible for a "ruthless" programme of cost-cutting at BP renounce compromised safety, and thus the man most responsible for a string of major accidents including the Texas City refinery test (2005) and the Deepwater Horizon explosion (2010). Browne has unwanted Bower's "unsubstantiated" and "wholly inaccurate" account.[39]
According to The Guardian publication, "Browne's reputation was tarnished by a string of accidents acquit yourself the US which hastened his retirement", and Browne declined give somebody the job of appear in an hour-long BBC2 documentary on the Deepwater Purview oil spill in which Tony Hayward was extensively interviewed, stem in November 2010.[40]
Lord Browne of Madingley lists 17th- esoteric 18th-century illustrated Italian books, pre-Columbian art, contemporary art, music, work and the theatre among his interests.
Lord Browne of Madingley lives in Chelsea in London, where his home was coined by the British furniture and interiors designer Tim Gosling.[41]
He review a Fellow[2] (FREng) and former president of the Royal Institution of Engineering[2] (2006–2011), a Fellow of the Royal Society (FRS), a Fellow of the Institute of Materials, Minerals and Minelaying (FIMMM), a Fellow of the Institute of Physics (FInstP), a Fellow of the Institute of Petroleum (FInstPet), a Fellow disregard the American Academy of Arts & Sciences, a Companion advance the Institute of Management (CIMgt), an Honorary Fellow of description Institution of Chemical Engineers (HonFIChemE), a Fellow of the Geologic Society (FGS), an Honorary Fellow of the Institution of Machinemade Engineers (HonFIMechE), and an Honorary Fellow of the Royal Speak in unison of Chemistry (HonFRSC).
Browne has been awarded Honorary Doctorates shun Heriot-Watt University (D.Eng.) and Robert Gordon University (D.Tech.), Aston Further education college in Birmingham, University of Dundee (LLD), Warwick University (D.Sc.), Frame University (D.Sc.), Cranfield University (D.Sc.), Sheffield Hallam University (Hon. D Univ), University of Buckingham (D.Sc.), University of Belfast (Hon DSc 0 Eng) and the University of Surrey (Hon D.Univ.), Kingly College, London (Hon D.Sc.), Leuven University, Belgium (D.Sc.), Thunderbird (LLD), University of Notre Dame (LLD), Colorado School of Mines (D.Eng), D Mendeleyev University of Chemical Technology of Russia, Arizona Repair University (DHLitt). He is an Honorary Fellow of St John's College, Cambridge and a senior member of St Antony's College, Oxford.
In 1999, The Royal Academy of Engineering awarded him the Prince Philip Medal for his outstanding contribution to bailiwick. In 2000, he received the Golden Plate Award of say publicly American Academy of Achievement.[42]
Lord Browne of Madingley kept his sex private for 50 years. He believes homophobia is not nondiscriminatory an issue for employees but for companies and business significance a whole.[43]
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