Buying back corporate power

Article Abstract:

There has been an increase in the incidence of management buyouts (MBOs) in the Scottish corporate community. The recession is pushing many struggling companies to sell-off parts in order to affect a leaner organization structure. Significant MBOs in Scotland include the 100 million pounds sterling Taunton Cider MBO, and the 107 million pounds Devro MBO. Devro, a manufacturer of collagen sausage-casings, was bought out from Johnson and Johnson, its parent, in April 1991 in a deal managed by the Royal Bank of Scotland's merchant banking subsidiary, Charterhouse. The corporate management of Devro did not feel that Johnson and Johnson's corporate headquarters was paying enough attention to the firm.

Finance, Corporations, Management buyouts, Johnson & Johnson, Corporations, Scottish, Charterhouse Development Capital Ltd., Devro, Taunton Cider Company Ltd.

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Crawford Beveridge of Scottish Enterprise

Article Abstract:

Crawford Beveridge has been named as the chief executive of Scottish Enterprise, the new entity that has been created to amalgamate the functions of the Scottish Development Agency and the Scottish Training Agency. Beveridge is an expatriate Scot returning to Scotland to head the agency out of a sense of patriotism. Beveridge was a successful executive with Sun Microsystems in California, where he created the infrastructure for the rapidly expanding company. Beveridge took a substantial salary cut to leave Sun Microsystems to take on his new job, and he has enthusiastically undertaken his new duties.

Economic policy, Economic development, Beveridge, Crawford

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James Provan of Scottish Financial Enterprise

Article Abstract:

Scottish Financial Enterprise Exec Dir James Provan is planning to improve the image of the organization while developing a partnership of regional financial centers that will balance the power of financial centers in London, Paris, and Bonn. Provan will face challenges because the financial sector in Scotland is not fully aware of the potential for increasing market share by entering the European market. A regional financial center would promote regional control of enterprise while decreasing centralization.

International finance, Provan, James

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