Editing Percy Barnevik

{{Short description|Swedish businessman  (born 1941)}}
{{BLP sources|date=October 2007}}
{{Use dmy dates|date=May 2021}}
{{Infobox person
| name               = Percy Barnevik
| image              = 26. Internationales Management Symposium 1996-Percy N. Barnevik, schwedischer Manager-HSGH 022-000753-06.jpg
| alt                = 
| caption            = 
| birth_name         = 
| birth_date         = {{Birth date and age|1941|2|13|df=y}}
| birth_place        = [[Simrishamn]], [[Sweden]]
| death_date         = 
| death_place        = 
| nationality        = Swedish
| other_names        = 
| occupation         = former [[chief executive officer|CEO]]
| years_active       = 
| known_for          = 
| notable_works      = 
| alma_mater         = [[Gothenburg School of Business, Economics and Law]]
}}

'''Percy Nils Barnevik''' [[HonFREng]]<ref name="raeng1">{{cite web|title=List of Fellows|url=http://www.raeng.org.uk/about-us/people-council-committees/the-fellowship/list-of-fellows}}</ref> (born 13 February 1941) is a Swedish business executive, best known as CEO and later Chairman of [[ABB]] 1988–2002, and for being the centre of a giant pension dispute that shook Sweden in 2003.<ref>{{cite news |date=18 April 2010 |title=The man who fell to Earth: knives are out for a corporate legend |url=https://www.independent.co.uk/news/business/analysis-and-features/the-man-who-fell-to-earth-knives-are-out-for-a-corporate-legend-657924.html |url-status=dead |archive-url=https://web.archive.org/web/20100418074408/http://www.independent.co.uk/news/business/analysis-and-features/the-man-who-fell-to-earth-knives-are-out-for-a-corporate-legend-657924.html |archive-date=2010-04-18 |access-date=13 May 2012}}</ref> He is the co-founder of the non-profit organization Hand in Hand.<ref>{{cite web|title=Hand in Hand International Founders|url=http://www.hihinternational.org/Who-We-Are/HiH-International/Founders.aspx}}</ref><ref>{{cite web|title=Corporate Titan Percy Barnevik's $50 Million Bet on Poverty Reduction|url=https://www.forbes.com/sites/kerryadolan/2014/05/28/corporate-titan-percy-barneviks-50-million-bet-on-poverty-reduction/|website=[[Forbes]]}}</ref>

==Background==
Born in [[Simrishamn]] in southern Sweden, the youngest of three children, he grew up in [[Uddevalla]], north of [[Gothenburg]], where his parents operated a small printing company. Barnevik was educated at the [[University of Gothenburg]]'s [[School of Business, Economics and Law]] and at [[Stanford Graduate School of Business]]. He has received seven [[Honorary degree|honorary doctorates]] in Sweden, Finland and the U.S., including from [[Linköping University]] (1989) and the [[University of Gothenburg]] (1991).<ref>{{cite web|title=Honorary doctors at Linköping University|url=https://liu.se/en/article/honorary-doctors|publisher=Linköping University|access-date=1 February 2018}}</ref><ref>{{cite web|title=Hedersdoktorer [Honorary Doctors]|url=https://handels.gu.se/om_handelshogskolan/fakta_+och+_historia/hedersdoktorer|publisher=University of Gothenburg, School of Business, Economics and Law|access-date=1 February 2018|language=sv}}</ref>{{Citation needed|date=June 2010}} In 1993, Barnevik received the [[IEEE Engineering Leadership Recognition Award]].<ref>{{cite web|url=http://www.ieee.org/documents/weber_rl.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://www.ieee.org/documents/weber_rl.pdf |archive-date=2022-10-09 |url-status=dead |title=IEEE Ernst Weber Engineering Leadership Recognition Recipients |publisher=IEEE |access-date=20 November 2010}}</ref>

==Career==
Barnevik started his professional career in the Swedish company Datema, but soon moved to [[Sandvik]]. In [[Sandviken]], where between the years 1969 and 1970 he hired over 150 people, his employees said "he has some kind of magic in him—you just can't refuse his offer." He developed unique relationships with many of his colleagues which helped him to improve the communication. In 1975, he was promoted to CEO of Sandvik's American operations, Sandvik Steel. Within the next four years he tripled the revenues, grossing $250 million, and turned the company profitable. During his work in the United States, Sandvik started competing against the industry leaders, such as [[General Electric]] and [[U.S. Steel]].

In 1979 he joined [[ASEA]], a leading Swedish heavy industrial company based in [[Västerås]]. In 1987 he decided to merge with its Swiss competitor – [[Brown, Boveri & Cie]]. It was the largest merger at that time. He held the position of CEO of ASEA 1980–87, was CEO of ABB from 1988 to 1996. He was Chairman of Sandvik 1983–2002, Chairman of [[Skanska]] 1992–1997, Chairman of [[Investor AB]] 1997–2002, Chairman of [[AstraZeneca]] 1999–2004,<ref>[http://www.astrazeneca.at/Documents/AZNews/L040311LouisSchweitzer.doc] {{webarchive|url=https://web.archive.org/web/20071202004831/http://www.astrazeneca.at/Documents/AZNews/L040311LouisSchweitzer.doc|date=2 December 2007}}</ref> Chairman of ABB 1996–2002, Member of the Board of [[DuPont]], USA 1991–1998 and Member of the Board of [[General Motors]], USA 1996–2009. He was also a regular [[Bilderberg Group]] [[List of Bilderberg attendees|attendee]] 1992–2001 and belonged to the group's Steering Committee.<ref>{{cite web|url=http://www.bilderbergmeetings.org/former-steering-committee-members.html|title=Former Steering Committee Members|work=bilderbergmeetings.org|publisher=[[Bilderberg Group]]|access-date=2014-02-08|archive-url=https://web.archive.org/web/20140202095633/http://www.bilderbergmeetings.org/former-steering-committee-members.html|archive-date=2 February 2014|url-status=dead}}</ref>

During his eight years as CEO of ASEA followed by the nine years as CEO of ABB, the company achieved an increase of stock value of 87 times or 30% average per year over the 17 years. Net profit increased 60 times and sales 30 times. Based upon these extraordinary results Barnevik received a one-off payment of 148 million Swiss francs when he retired as CEO in 1996. 2002, six years later under a second succeeding CEO, ABB stock market value plummeted from 54.50 francs in 2000 to just under 15 francs. When ABB's board made the pension payment public, a huge scandal ensued and Barnevik was forced to resign as chairman of Investor, the Swedish investment company controlled by the powerful [[Wallenberg family]], and to hand back a large chunk of his pension to ABB.<ref>{{cite news| url=http://news.bbc.co.uk/2/hi/business/1866190.stm |work=BBC News | title=ABB ex-bosses pay back benefits | date=11 March 2002}}</ref><ref>{{cite web|url=http://www.abb.com/cawp/seitp202/C1256C290031524BC1256B0B003B8C36.aspx |title=Jürgen Dormann succeeds Percy Barnevik as chairman of ABB |publisher=Abb.com |date=21 November 2001 |access-date=13 May 2012}}</ref>

==Philanthropy==
In 2003, Barnevik co-founded charity [[:en:Hand in Hand International|Hand in Hand]] with Dr Kalpana Sankar in Tamil Nadu, India. The charity, which fights poverty through job and business creation, has since grown to include programs in 10 countries: Kenya, Rwanda, South Africa, Eswatini, Lesotho, Zimbabwe, India, Afghanistan and, more recently, Cambodia and Myanmar.<ref>{{cite web|title=HiH Where We Work|url=http://www.hihinternational.org/Where-We-Do-It/Where-We-Do-It.aspx}}</ref> Hand in Hand's mission is to work for economic and social empowerment of the poorest and most marginalized people by supporting the development of businesses and jobs. Since 2003, the Hand in Hand network has helped start and sustain 1.3 million businesses and has generated 1.9 million jobs.<ref>[[Hand in Hand International]]</ref>

==Personal life==
Barnevik lived in London. In an interview he once stated that he took a test which stated he was unsuitable for a managerial position.<ref>{{Cite web|url=https://www.dn.se/ekonomi/percy-barnevik-jag-var-olamplig-som-chef/|title=Percy Barnevik: Jag var olämplig som chef|date=2012-01-16|website=[[Dagens Nyheter]]|language=sv|access-date=2019-11-01}}</ref><ref>{{cite book|last1=Barnevik|first1=Percy|title=Percy Barnevik on Leadership|publisher=Sanoma}}</ref>

==Current affiliations==
*Member of the Business Council and the International Investment Council advising the South African government<ref>[http://www.gm.com/corporate/investor_information/corp_gov/bios/directors/barnevik.jsp] {{webarchive|url=https://web.archive.org/web/20110610222350/http://www.gm.com/corporate/investor_information/corp_gov/bios/directors/barnevik.jsp|date=10 June 2011}}</ref>
*Member of the Advisory Council of [[Centre for European Reform]], UK
*Member of the Advisory Council at the [[Wharton School of the University of Pennsylvania|Wharton School of Business Administration]]
*Member of the Advisory Council at the [[Humboldt University]] in Berlin
*Member of the [[Royal Swedish Academy of Sciences]] since 1982<ref>{{cite web |url=http://www.ivawebb.se/Members/member_detail.asp?ID=73 |archive-url=https://web.archive.org/web/20111007040621/http://www.ivawebb.se/Members/member_detail.asp?ID=73 |url-status=dead |archive-date=7 October 2011 |title=Royal Swedish Academy of Engineering Sciences: Barnevik, Percy |publisher=Ivawebb.se |access-date=13 May 2012 }}</ref>
*Member of the Governing Board and Advisors at the [[Grassroots Business Fund]]
*Member of the Advisory Council at the Academy of Engineering Sciences in Finland
*Foreign Honorary Member of the [[American Academy of Arts and Sciences]] (1999)<ref name=AAAS>{{cite web|title=Book of Members, 1780–2010: Chapter B|url=http://www.amacad.org/publications/BookofMembers/ChapterB.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://www.amacad.org/publications/BookofMembers/ChapterB.pdf |archive-date=2022-10-09 |url-status=live|publisher=American Academy of Arts and Sciences|access-date=17 May 2011}}</ref>
*Honorary Fellow, the [[Royal Academy of Engineering]]<ref name="raeng1"/>
*Honorary Chairman, [http://www.handinhandinternational.org/ Hand in Hand International]

==References==
{{reflist|colwidth=30em}}

{{S-start}}
{{s-bus}}
{{Succession box
| title = CEO of [[ASEA|Asea]]
| before= [[Torsten L. Lindström]]
| after= n/a
| years=1980–1987}}
{{Succession box
| title = CEO of [[ABB]]
| before= n/a
| after= [[Göran Lindahl]]
| years=1988–1996}}
{{Succession box
| title = Chairman of [[ABB]]
| before= [[Peter Wallenberg Sr.|Peter Wallenberg]], [[David de Pury (diplomat)|David de Pury]]
| after= [[Jürgen Dormann]]
| years=1996–2002}}
{{Succession box
| title = Chairman of [[Sandvik]]
| before= [[Arne Westerberg]]
| after= [[Clas Åke Hedström]]
| years=1983–2002}}
{{Succession box
| title = Chairman of [[Skanska]]
| before=[[Bengt Haak]]
| after=[[Melker Schörling]]
| years=1992– 1997}}
{{Succession box
| title = Member of the board [[DuPont]]
| before=[[n/a]]
| after=[[n/a]]
| years=1991– 1998}}
{{Succession box
| title = Chairman of [[Investor AB]]
| before= [[Peter Wallenberg, Sr.|Peter Wallenberg]]
| after= [[Claes Dahlbäck]]
| years=1997–2002}}
{{Succession box
| title = Chairman of [[AstraZeneca]]
| before= n/a
| after= [[Louis Schweitzer (CEO)|Louis Schweitzer]]
| years=1999–2004}}
{{S-end}}

{{ABB Group}}

{{Authority control}}

{{DEFAULTSORT:Barnevik, Percy}}
[[Category:1941 births]]
[[Category:Living people]]
[[Category:People from Simrishamn Municipality]]
[[Category:People from Uddevalla]]
[[Category:Swedish businesspeople]]
[[Category:University of Gothenburg alumni]]
[[Category:Stanford Graduate School of Business alumni]]
[[Category:General Motors executives]]
[[Category:Members of the Royal Swedish Academy of Engineering Sciences]]
[[Category:Members of the Steering Committee of the Bilderberg Group]]
[[Category:Honorary Fellows of the Royal Academy of Engineering]]
[[Category:Fellows of the American Academy of Arts and Sciences]]