Kenneth Lay
| Kenneth Lay | |
|---|---|
Mugshot of Lay upon his arrest in 2004
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| Born |
Kenneth Lee Lay April 15, 1942 Tyrone, Missouri, U.S. |
| Died | July 5, 2006 (aged 64) Snowmass, Colorado, U.S. |
| Occupation | Businessman |
| Political party | Republican |
| Spouse(s) | Linda Lay Judith Ayers |
| Children | Elizabeth Ayers Lay Vittore Mark Kenneth Lay Robyn Anne Herrold Lay Vermeil Todd David Herrold Robert Ray (Beau) Herrold |
Kenneth Lee "Ken" Lay (April 15, 1942 – July 5, 2006) was an American businessman. He was the CEO and chairman of Enron Corporation. Lay was indicted by a grand jury and was found guilty of 10 counts of securities fraud. Lay died while vacationing, three months before his October 23 sentencing. A preliminary autopsy reported Lay had died of a heart attack caused by coronary artery disease and his conviction was vacated.
Lay was born in the Texas County, Missouri town of Tyrone, the son of Ruth (née Rees) and Omer Lay. He moved to Columbia, Missouri and attended David H. Hickman High School and the University of Missouri where he studied economics, receiving a B.A. in 1964 and an M.A. in 1965.He served as president of the Zeta Phi chapter of the Beta Theta Pi fraternity at the University of Missouri. He went on to earn his Ph.D. in economics from the University of Houston in 1970 and soon after went to work at Exxon Company, USA.
Lay worked in the early 1970s as a federal energy regulator. He became undersecretary for the Department of the Interior and returned to the business world as an executive at Florida Gas Transmission. By the time energy was deregulated in the 1980s, Lay was already an energy company executive and he took advantage of the new climate when Omaha-based Internorth bought his company Houston Natural Gas and changed the name to Enron in 1985. He was also a member of the board of directors of Eli Lilly and Company and a director at Texas Commerce Bank.
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