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Re: Stevenage Lottery

By dippers119/5 13:31Tue May 19 13:31:15 2020In response to Stevenage Lottery

Views: 267

DOB: 22/10/1949 2018: £80M INDUSTRY: FOOD 2019: £110M
• Hertfordshire Life
• 1 Mar 2019

Sitting 11th in the English Football League division two at the start of 2019 is not where Stevenage’s ambitious chairman Phil Wallace wants the club to be. Wallace took control of Stevenage FC in 1999 when the club was days away from bankruptcy. He regards it as a personal challenge but it is one he can bankroll. Aside from his footballing duties Wallace is the CEO of the world’s largest privately-owned frozen and chilled food importer and exporter, Lamex, which he joined in 1972 and became a director in 1975. He was appointed managing director and majority shareholder in the early 1980s.
Continuing growth in the group led to a $50m management buyout in 2006, with Wallace and his family retaining a near 24 per cent family stake in the newly formed parent, Lamex Food Group.In 2017–18 it made a record £24.7m profit on £1.2bn sales and should be worth over £300m. Wallace’s Lamex holding and his other assets and past salaries take him to £110m.

I think Phil should be able to cope

Edited by dippers1 at 13:33:07 on 19th May 2020

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Next article in this thread: Re: Stevenage Lottery by Sev19/5 13:58Tue May 19 13:58:37 2020

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