US heir-apparent opts for a rag-bag of businesses
Thursday 23 February 1995
Although the move to run a highly indebted rag-bag of businesses appeared strange for the heir-apparent to Hanson's US empire, Mr Clarke had become used to running his own show before selling out to Lord White's Hanson Industries in 1973.
He said yesterday that when talks on the proposed demerger of 34 of Hanson's non-core US businesses started five months ago, he asked the lords if he could go and run it himself.
With debts amounting to four times US Industries' net assets, the company will be a highly geared play on a range of business sectors. If he has negotiated the right package, share options could more than make up for the cut Mr Clarke has agreed to make from his Hanson salary.
Mr Clarke joined Hanson 22 years ago after selling his family business, J Howard Smith, a fish meal manufacturer and real estate company, to the conglomerate. In 1978 he became president of Hanson Industries and was promoted to deputy chairman and chief executive in 1992.
His replacement in the US, Bill Landuyt, is regarded as the company's brightest rising star. Having joined Hanson 13 years ago as assistant treasurer at the age of 26 he rose rapidly through the hierarchy.
- 1 Mother fed her daughter tapeworms to make her skinny for beauty pageant
- 3 Crystal Palace next manager latest: Palace consider Ally McCoist - EXCLUSIVE
- 4 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
- 5 Tim Sherwood column: 'It started as a three-horse race but turned into the Grand National'
'Alien thigh bone' on Mars: Excitement from alien hunters at 'evidence' of extraterrestrial life
West poised to join forces with Assad in face of Islamic State
Pamela Anderson rejects ice bucket challenge because of ALS experiments on animals: 'Mice had holes drilled into their skulls'
James Foley 'beheaded': Isis video shows militant with British accent 'execute US journalist' – as hunt begins for killer
ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
Richard Dawkins on babies with Down Syndrome: 'Abort it and try again – it would be immoral to bring it into the world'
Scottish independence: English people overwhelmingly want Scotland to stay in the UK
Isis threat: Cameron wants an alliance with Iran
Michael Brown shooting: Chaos erupts on the streets of Ferguson after autopsy shows teenager was shot six times – twice in the head
Disgusting, frustrating, but intriguing: how the country really feels about its politicians
Bin bag full of cats' heads discovered near Manchester's Curry Mile
iJobs Money & Business
£20000 - £27000 per annum: Harrington Starr: Service Desk Analyst- (Desktop Su...
£25000 - £35000 per annum: Harrington Starr: Service Desk Analyst - (Active Di...
£30000 - £50000 per annum: Harrington Starr: Junior Quant Analyst - C++, Boost...
£30000 - £50000 per annum: Harrington Starr: Junior Quant Analyst (Machine Lea...