A reassuring rescuer of ailing companies

In 1965 it merged with another family business to form Scott & Robertson. In 1970 the Scott family asserted control and Robertson, by then chairman, was dismissed. He later referred to this affront as "the revolt of the pygmies", but said he was grateful it had saved him from spending...

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Bibliographic Details
Published inThe Financial times (London ed.)
Main Author Buxton, James
Format Newspaper Article
LanguageEnglish
Published London (UK) The Financial Times Limited 28.11.2008
Subjects
Robertson, Lewis
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Summary:In 1965 it merged with another family business to form Scott & Robertson. In 1970 the Scott family asserted control and Robertson, by then chairman, was dismissed. He later referred to this affront as "the revolt of the pygmies", but said he was grateful it had saved him from spending the rest of his life in a declining industry. He was soon headhunted to become chief executive of Grampian Holdings, a quoted Glasgow conglomerate that was in difficulties. The agency's investment record, which included politically-ordered attempts to save doomed businesses, became a cause of public criticism. When the Conservatives returned to office, Robertson fell out with Alex [later Sir Alex] Fletcher, the Scottish industry minister, and left the SDA in 1981 when his term expired. The rescue of Stakis was happier. By the time Robertson retired, Stakis' market capitalisation was pound(s)368m against pound(s)63m when he arrived.
ISSN:0307-1766