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Reshuffle at BL

11th September 1982
Page 4
Page 4, 11th September 1982 — Reshuffle at BL
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LEYLAND'S commercial vehicle activities become more autonomous from October 1, in the first stage of Sir Michael Edwardes' three-stage resignation as chairman of BL.

Sir Michael, who has chaired the state-owned manufacturer since 1977, ceases to be executive chairman on October 1, and is handing over executive responsibility to David Andrews, group chief executive for Land Rover-Leyland (taking in all commercial vehicle building except for Morris vans), and to Ray Horrocks, his equivalent in the car group.

This means that Mr Andrews will now take over Sir Michael's responsibility for authorising specific projects and for approving levels of expenditure. In effect, he now becomes responsible for 100 per cent of the Land Rover-Leyland Group, whereas before he had between 85 and 90 per cent responsibility.

A BL spokesman told CM that there are no plans to split the car and commercial businesses further at present, although the ultimate company aim is to introduce private capital into the company as its financial performance improves.

He could not say whether one group might be privatised before another, but indicated that half-year results to be published next week will show that the company is still some way short of breaking even on its 1983 trading figures, and on its pretax figures in 1984.

Sir Michael, who is 51, will step down as non-executive chairman on November 8, but will remain as a board member until the end of December.

His role as chairman will be taken on by Sir Austin Bide, chairman of Glaxo and BL deputy chairman since 1980. He is 67, and was the first director to join the company after Sir Michael was appointed. His salary of £65,000 compares with Sir Michael's reputed £95,000 figure.

The other board members remain, with Dowty Engineering chairman Sir Robert Hunt succeeding Sir Austin as deputy non-executive chairman, and Sir John Mayhew-Saunders of John Brown and Sir Robert Clark of merchant banker Hill Samuel as directors.


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