John Elliott (businessman)

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John Dormer Elliott (born 3 October 1941) is a prominent Australian businessman, former president of the Liberal Party, and former president of Carlton Football Club. In 2003 he was found guilty of trading while insolvent and in 2005 declared bankruptcy. He has frequently provoked controversy due to his political affiliations, his brushes with the law, and his abrasive personal style.

1 Education
2 Successful career
3 Later developments
4 References

[edit] Education

He completed his secondary schooling at Carey Baptist Grammar School, in Kew. He then attended the University of Melbourne and graduated with a Bachelor of Commerce degree and later completed a Master of Business Administration degree at Melbourne Business School.

[edit] Successful career

Elliott was an employee of McKinsey, the global consulting firm. From there, he and several partners acquired control of a listed jam manufacturer IXL.

Elliott and his team built the company up through a string of acquisitions throughout the late 1970s and 1980s, including Australian corporate icons Elders Limited an agricultural services concern, Carlton and United Breweries now part of the Foster's Brewing Group and Australia's largest beer manufacturer, and Henry Jones IXL food manufacturer.

During this time he was also a high-profile President of Carlton Football Club. While he was an effective advocate for the club on a range of issues, the team under his presidency was only able to win two premierships.

In 1985 Elliott's company - by then called Elders IXL - played an important role in fending off Robert Holmes a Court's attempted takeover of diversified mining company BHP. Elders bought a large share in BHP which blocked Holmes a Court's attempt to take control. As a result Elliott joined the BHP board. He then attempted a management buyout of Elders, but this was unsuccessful and left his A$80 million fortune considerably reduced.

Subsequently the National Crime Authority (NCA) investigated a foreign exchange transaction undertaken by Elders. Though one of his executives was jailed, Elliott was cleared of criminal charges. He accused the NCA of a vendetta inspired by the then Labor government and motivated by his position as Liberal Party President (which he held from 1987 to 1990). He later launched civil action for damages, which was ultimately unsuccessful.

[edit] Later developments

In 2002 Elliott was sacked as the President of the Carlton Football Club which he had held for two decades. His term ended when the club was found to have breached the Australian Football League's salary cap conditions, which prompted large fines and other penalties and was blamed for Carlton wining the wooden spoon in 2002. In a move some thought to be ungracious given his long service, his name was removed from the club signs at its home ground Optus Oval, Princes Park.

Elliott's venture into rice milling with Water Wheel Holdings led to a corporate collapse in 2000. In 2003 the Victorian Supreme Court ordered him to pay grain suppliers, farmers, and trade creditors A$1.4 million in compensation for allowing Water Wheel to trade while insolvent. He declared himself bankrupt in 2005, owing money to 14 creditors, including the Australian Taxation Office, the Australian Crime Commission, the Victorian Director of Public Prosecutions, and the Australian Securities and Investments Commission.