THE first and always lingering impression of Burmah Castrol chairman
Lawrence Urquhart is of a quiet presence most unlikely to panic or be
much surprised by events, no matter what. Perhaps that was one reason
for his being headhunted to help clear up the mess at Burmah Oil as part
of Sir Alastair Down's team.
That was no ordinary job for a finance director, as the size of
Burmah's debts due to its exposure to shipping created one of the worst
crashes of the 1970s.
Urquhart had the vision that this company -- once a great Scottish
company which still has its annual meetings north of the Border -- ''had
to be restored after a betrayal of 90 years of history''. The first
part of the task was to make Burmah financially viable. A major
rehabilitation came with a #60m sterling loan backed by the world's five
best banks -- the next step was the restoration of the dividend in 1980.
Burmah had been saved but it was a ragbag of interests including
caravans, Quinton Hazell car exhausts and the Halfords motorist' shops
as well as the seemingly then over-the-hill Castrol. Out went most of
the peripheral activities including Rawlplug. And also with great
regret, went oil interests including the substantial stakes in Ninian
and Thistle as well as the people who were to form the core
of the British National Oil Corporation.
Then came his challenge at Castrol. It had been starved of cash and
financial controls and had a negligible market share in the US. He
reassured management and then encouraged it through profit-sharing.
The growth of Castrol to arguably the strongest lubricant brand name
in the world -- number three in the US and leader in Germany -- is the
achievement that brings him most satisfaction.
Managementspeak at Burmah Castrol -- the second name was added in 1990
-- is that it is an international marketeer of specialised oil and
chemical products and with the stress on the analogy between Castrol and
chemicals.
An early decision set Urquhart on the road to his current position. He
decided to study English law at King's College in London as he felt
Scottish law was more confined. But instead of becoming a barrister, he
joined Price Waterhouse and was indentured to a Scottish partner,
qualifying as a CA in 1961. A life of grind.
For four or five years at PW, he had been heavily involved with the
Shell audit. So it was a natural decision to join the oil giant, and he
soon found himself in Venezuela with his newactress wife Elizabeth.
There the big decision had to be taken. To get to the top of Shell,
the way is through the international side -- and through his parents, he
had seen enough of the life of expatriates not to want that.
So there followed a four-year stint at the PA management consultants
with some steep learning curves and then six at Charterhouse. Then came
the three years at TKM, which he left, with a feeling of some relief,
for Burmah.
Relaxation is playing the piano and, despite his handicap of 19, golf.
Outside interests include a much-cherished non-executive directorship at
Scottish Widows, at the BAA airports group and at English China Clays.
His office in London's Mayfair is modest for a company valued at #1250m.
There are no Rolls-Royces, aircraft or country houses. The
headquarters are in Swindon, which underlines the point -- although the
quiet company anonymity is replaced by large blasts of the trumpet when
promoting Castrol. Altogether a feeling of reassurance.
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