Tim Parker
Encyclopedia
Timothy Charles Parker commonly known as Tim Parker, is a millionaire British businessman nicknamed the "Prince of Darkness" by labour unions for his track record of laying off workers to cut costs. In May 2008, newly-elected Mayor of London
Boris Johnson
appointed Parker as Chief Executive of the Greater London Authority
, a position which includes managing Transport for London
. Parker "agreed not to receive a salary but will get a nominal one pound a year." His erstwhile colleagues expected him to use this as a launch pad for political office.
On 19 August 2008 it was announced that Tim Parker would no longer be chairing the TfL Board - rather Boris Johnson would retain that role. At the same time the post of First Deputy Mayor would be abolished and Tim Parker would stand down from his role as Chief Executive of the Greater London Authority - he will remain as a Special Adviser.
, at Oxford University's Pembroke College
, and the London Business School
. He initially worked for the Treasury, before joining the Thorne Group, becoming PA to the Chairman, before being elevated to CEO status in one of the companies. He is married and has four children.
firms, Parker has been head of the British The Automobile Association
, during which time he increased his own stake from £6,000,000 to £40,000,000, and CEO of car-repair firm Kwik-Fit
and shoemaker Clarks
.
Untill 1997 Timothy Parker was owner and CEO of Kenwood Limited (Havant)
After Boris Johnson's election as Mayor of London on May 1, 2008, Tim Parker was appointed First Deputy Mayor, Chief Executive of the Greater London Authority and Chairman of Transport for London. There are those who suppose his appointment was due to an ambition to take on the unions in the transport system.
As of the 13th of January 2009, Tim Parker is officially the new CEO of Samsonite, the luggage company.
's Chancellor Denis Healey
. He then left politics, but returned years later as an advisor for the Conservative Party.
Mayor of London
The Mayor of London is an elected politician who, along with the London Assembly of 25 members, is accountable for the strategic government of Greater London. Conservative Boris Johnson has held the position since 4 May 2008...
Boris Johnson
Boris Johnson
Alexander Boris de Pfeffel Johnson is a British journalist and Conservative Party politician, who has been the elected Mayor of London since 2008...
appointed Parker as Chief Executive of the Greater London Authority
Greater London Authority
The Greater London Authority is the top-tier administrative body for Greater London, England. It consists of a directly elected executive Mayor of London, currently Boris Johnson, and an elected 25-member London Assembly with scrutiny powers...
, a position which includes managing Transport for London
Transport for London
Transport for London is the local government body responsible for most aspects of the transport system in Greater London in England. Its role is to implement the transport strategy and to manage transport services across London...
. Parker "agreed not to receive a salary but will get a nominal one pound a year." His erstwhile colleagues expected him to use this as a launch pad for political office.
On 19 August 2008 it was announced that Tim Parker would no longer be chairing the TfL Board - rather Boris Johnson would retain that role. At the same time the post of First Deputy Mayor would be abolished and Tim Parker would stand down from his role as Chief Executive of the Greater London Authority - he will remain as a Special Adviser.
Private life
Tim Parker was educated at the independent Abingdon SchoolAbingdon School
Abingdon School is a British day and boarding independent school for boys situated in Abingdon, Oxfordshire , previously known as Roysse's School. In 1998 a formal merger took place between Abingdon School and Josca's, a preparatory school four miles to the west at Frilford...
, at Oxford University's Pembroke College
Pembroke College, Oxford
Pembroke College is one of the constituent colleges of the University of Oxford in England, located in Pembroke Square. As of 2009, Pembroke had an estimated financial endowment of £44.9 million.-History:...
, and the London Business School
London Business School
London Business School is an international business school and a constituent college of the federal University of London, located in central London, beside Regent's Park...
. He initially worked for the Treasury, before joining the Thorne Group, becoming PA to the Chairman, before being elevated to CEO status in one of the companies. He is married and has four children.
Career
On behalf of private equityPrivate equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
firms, Parker has been head of the British The Automobile Association
The Automobile Association
The Automobile Association , a British motoring association founded in 1905 was demutualised in 1999 to become a private limited company which currently provides car insurance, driving lessons, breakdown cover, loans and motoring advice, and other services...
, during which time he increased his own stake from £6,000,000 to £40,000,000, and CEO of car-repair firm Kwik-Fit
Kwik-Fit
Kwik-Fit is a British car servicing and repair company, specialising in tyres, brakes, exhausts, MOT testing, car servicing, air-conditioning recharge, oil changes and windscreen repair. They are the leading fast-fit supplier of tyres in the UK with over 600 Kwik-Fit centres.-History:Sir Tom Farmer...
and shoemaker Clarks
C&J Clark
C. and J. Clark International Ltd, trading as Clarks, is a British, international shoe manufacturer and retailer based in Street, Somerset, England...
.
Untill 1997 Timothy Parker was owner and CEO of Kenwood Limited (Havant)
After Boris Johnson's election as Mayor of London on May 1, 2008, Tim Parker was appointed First Deputy Mayor, Chief Executive of the Greater London Authority and Chairman of Transport for London. There are those who suppose his appointment was due to an ambition to take on the unions in the transport system.
As of the 13th of January 2009, Tim Parker is officially the new CEO of Samsonite, the luggage company.
Union criticism
Parker distinguished himself as a ruthless cost-cutter to the extent that labour unions at the firms he restructured nicknamed him the "Prince of Darkness". His actions as CEO of the AA triggered a campaign by unions against private equity firms, culminating in a parliamentary enquiry on the private equity industry in 2007.Politics
Parker started out in student politics while he was at Oxford University, where he chaired the Labour Club. At the time, he was considered a moderate socialist, but never a Trotskyite. After university, he worked at the Treasury under Labour Prime Minister James CallaghanJames Callaghan
Leonard James Callaghan, Baron Callaghan of Cardiff, KG, PC , was a British Labour politician, who was Prime Minister of the United Kingdom from 1976 to 1979 and Leader of the Labour Party from 1976 to 1980...
's Chancellor Denis Healey
Denis Healey
Denis Winston Healey, Baron Healey CH, MBE, PC is a British Labour politician, who served as Secretary of State for Defence from 1964 to 1970 and Chancellor of the Exchequer from 1974 to 1979.-Early life:...
. He then left politics, but returned years later as an advisor for the Conservative Party.