Tim Parker

Timothy Charles "Tim" Parker (born 19 June 1955), is Chairman and Chief Executive of Samsonite and non-executive Chairman of the Autobar Group, the largest vending operator in Europe. He is also an Industrial Partner of CVC Capital Partners.

Tim Parker was educated at Abingdon School and Pembroke College, Oxford, where he was Chairman of the Oxford University Labour Club. He holds an M.A. in Philosophy, Politics and Economics from Oxford, and an MSc. in Business Studies from the London Business School. He worked for a short spell as an economist in HM Treasury, and later joined the Thorn EMI Group, PA, to Sir William Barlow, Chairman of the Engineering Group.

At the age of 26, Parker was appointed President of GD Blakeslee, a subsidiary of Thorn EMI in Chicago. Tim Parker lists his hobbies as playing the flute, collecting art and running. He also owns the British Pathe Film Archive, perhaps the foremost 20th-century film record in the English language. He is married and has four children.

On his return from the US in 1983, Parker became Managing Director of Crypto Peerless, a Birmingham company manufacturing foodservice equipment. In 1986, he was appointed CEO of Kenwood Appliances, and in 1989 completed and LBO of the business, backed by Candover Partners. The company was purchased for £54m and subsequently listed on in 1992 at a valuation of £104m.

In 1996, Parker was appointed CEO of Clarks Shoes, the leading non-athletic shoe brand in the world. During a period of six years the company was substantially reorganised, withdrawing from European manufacture, and reviving the Clarks brand with more up-to-date shoe styles. 20 factories were closed. Over this period, the profitability of the footwear business increased 150% and the company posted record results in 2002.

In 2002, Parker moved to Kwik-Fit. Backed by CVC Capital Partners, he completed a £340m Management Buy-in from Ford. Following a major restructuring of the business, the operating profits increased by 250% in a two-year period. The business was sold to PAI in 2005 for £800m.

During 2004, CVC and Permira purchased the AA from Centrica for £1.75 billion, and Parker was asked to become CEO. During the next two years, the business carried out a fundamental restructuring programme. Half of the 7000 people who made up the workforce were made redundant. A large proportion of the savings made were reinvested in the business, leading growth in membership and the insurance portfolio. EBITDA increased from £120m in 2004 to £305m in 2007. In 2007, the AA merged with Saga, at an enterprise value of £3.35 billion.

...
Wikipedia