Lonrho PLC (A): An African Conglomerate
Rod E. White, Derek Lehmberg
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United Kingdom/Africa, Medium
Corporate Strategy; Diversification, General Management/Strategy, International, Administrative, Support, Waste Management and Remediation Services
In January 1997, Sir John Craven, a highly respected investment banker and chairman of the investment bank Deutsche Morgan Grenfell, was offered the chairmanship of Lonrho, a conglomerate with headquarters in London, England, and operations primarily in Africa. Lonrho's more significant interests were in hotels, mining, agribusiness and trading. The company was experiencing financial trouble, and was no longer respected by the financial community in London. Tiny Rowland, the tycoon entrepreneur who built the firm, had recently been fired. The firm lacked the leadership and direction it needed to remove itself from its current financial troubles and prosper in the future. Sir John needed to decide whether he should accept the offer of the chairman position, and if he did, what direction Lonrho should take. Supplements From Lonrho to Lonmin (B): Restructuring a Conglomerate, product 9B05M068 and Lonrho (C): Lonmin, product 9B05M069 look at the Sir John's decision and the company's focus.