| Andy Hornby | |
|---|---|
| Born | Andrew Hedley Hornby 21 December 1967 [1] Scarborough, North Yorkshire |
| Nationality | United Kingdom |
| Alma mater | St Peter's College, Oxford Harvard Business School |
| Occupation | Businessman |
| Known for | CEO HBOS plc CEO Alliance Boots CEO Coral |
Andy Hornby (born 21 January 1967) is an English businessman, notable for having been the Group Chief Executive of HBOS at the time of its government-facilitated rescue by Lloyds TSB. Currently he is Chief Executive of the bookmakers Coral.
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He was born in Scarborough, North Yorkshire,[2] but brought up in Bristol, where his father was headteacher of Clifton College Preparatory School.[1]
Hornby is the Chief Executive of Coral. Prior to joining Coral, he was Group Chief Executive of Alliance Boots. Prior to joining Alliance Boots, he was Group Chief Executive of HBOS until the government-facilitated rescue of HBOS by Lloyds TSB Group[3]. He has also held a range of roles at Asda, including Retail Managing Director and Managing Director of "George" clothing. He has a degree in English Literature from Oxford University and an MBA from Harvard Business School where he graduated top of his class of 800 students.[4]
Hornby started his career with Boston Consulting Group[5] where he focused on retail, consumer goods and financial sectors. After graduating from Harvard, he joined Blue Circle Industries where he carried out a range of general management roles. After leaving Blue Circle, he joined Asda under CEO Archie Norman, becoming Director of Corporate Development, Retail Managing Director, overseeing 36 stores and 14,000 employees; and then Managing Director of George whilst Allan Leighton was CEO. In 1999 he was promoted to the Asda Management Board at the age of 32.[1]
In November 1999 Hornby joined Halifax as Chief Executive of Retail and became Chief Executive of HBOS Retail following the merger with Bank of Scotland in 2001.[6] In 2005 he was appointed Chief Operating Officer of HBOS and he became Group Chief Executive in 2006, a position which he held until the takeover by Lloyds TSB Group. For five years Hornby was a non-executive director of Home Retail Group (& previously GUS Plc) where, until standing down in July 2009, he was also Chairman of the Remuneration Committee.[7]
On 1 July 2009, Hornby became Group Chief Executive of Alliance Boots, an international pharmacy-led health and beauty group with over 115,000 employees and a presence in over 20 countries worldwide.[8]
On 25 March 2011, Hornby resigned as Chief Executive of Alliance Boots. On 18 July 2011, he commenced his role as Chief Executive of Coral, which consists of a Retail estate of 1,670 betting shops, as well as an interactive business offering betting via Internet, telephone and mobile.
| Year | Role |
|---|---|
| 1988 | Boston Consulting Group
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| 1993 | Blue Circle Industries[10]
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| 1996 | Asda
Roles held:
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| 1999 | Halifax
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| 2001 | HBOS
Roles held:
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| 2004 | Home Retail Group (Formerly GUS plc)
Roles held:
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| 2009 | Alliance Boots
Roles held:
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| 2011 | Coral
Roles held:
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Andy Hornby joined Gala Coral Group on 18 July 2011 as Chief Executive of Coral. Rob Templeman, Chairman of Gala Coral, said[14]:
| “ | We are delighted to welcome Andy on board as CEO of Coral. His retail track record and wealth of experience will make him a massive asset for Coral as we develop the business going forward. | ” |
Hornby joined Alliance Boots on 1 July 2009[15] as Group Chief Executive. He worked in a collegiate manner under Stefano Pessina’s leadership with the other members of the Executive Committee: Ornella Barra (Chief Executive, Pharmaceutical Wholesale Division, Alliance Boots), Alex Gourlay (Chief Executive, Health & Beauty Division, Alliance Boots), George Fairweather (Group Finance Director, Alliance Boots) and Marco Pagni (Group Legal Counsel and Chief Administrative Officer, Alliance Boots).[16] On 25 March 2011, Alliance Boots announced that Andy Hornby was stepping down from his position.
In his first year as Group Chief Executive, Hornby presented the Alliance Boots preliminary results announcement for the year ended 31 March 2010. Alliance Boots reported:
Hornby commented: “Alliance Boots performed strongly in 2009/10, delivering a double digit trading profit growth, combined with a robust cash flow. This is a particularly good performance, given the challenging economic conditions we faced throughout the year. Although we are planning for consumer demand across Europe to remain subdued, we are confident about our prospects for the year ahead.”[17]
On 1 November 1999, he joined the Halifax as Chief Executive of Halifax Retail. In September 2001, the bank merged with the Bank of Scotland. He became Chief Executive of the Retail Division of HBOS plc. He became Chief Operating Officer (COO) in July 2005,[18] then CEO in July 2006, taking over from James Crosby. Whilst COO, he was offered the CEO job at Boots, however he declined the post and decided to remain at HBOS.
In September 2008 he was Chief Executive Officer of HBOS when it was near to bankruptcy. The bank agreed to be taken over by rival Lloyds TSB. In October 2008 he was forced by the government to resign his position.
After the takeover, Lloyds Banking Group stated that HBOS had made a pre-tax loss of £10.8bn in 2008. Subsequently retained on a "consultancy" contract by Lloyds Banking Group[19]
On 10 February 2009, Hornby and former HBOS Chairman, Lord Stevenson of Coddenham came before the Treasury Select Committee of the House of Commons. Hornby and RBoS CEO Fred Goodwin both admitted to having no qualifications in banking, such as those offered by the Institute of Bankers. Hornby said:[20]
| “ | I'm very sorry what happened at HBOS. It has affected shareholders, many of whom are colleagues, it's affected the communities in which we live and serve, it's clearly affected taxpayers, and we are extremely sorry for the turn of events that has brought it about. | ” |
Asda is a large British retail chain and a subsidiary of the American retail giant, Wal-Mart. Hornby worked for Asda from 1996–99. He joined Asda as the Director of Corporate Development and later became Retail Managing Director and subsequently Managing Director of George clothing. About his time at Asda, Hornby said he had a new job every 18 months, starting in investor relations, running the stores and being the managing director of George clothing.[21]
Blue Circle Industries was founded in 1900 as Associated Portland Cement Manufacturers Ltd. The company was located on the Thames estuary near London. In 2001 Blue Circle was acquired by Lafarge, which became the world's largest cement manufacturer.
Hornby began his career at Boston Consulting Group. Since its inception in 1963, BCG has been at the forefront of business management. BCG prides itself on being an industry leader in issues at the vanguard of management thinking and practice, such as global advantage, value management, sustainability, and networks.[22]
On 18 May 2010 Hornby delivered the British Retail Consortium 2010 Annual Retail Lecture entitled “Retailing…what’s changed with the credit crunch?”, addressing the questions: What type of Retailer will be successful for the next decade? What are the most important criteria for success in Retail in the post Credit Crunch world? And what are the main challenges facing UK Retailers generally?[23] In June of the same year he gave a presentation on “Managing a business after the credit crunch” as part of the Manchester Business School's 2010 Vital Topics lecture series.[5]
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