Tim Parker

Timothy Charles Parker [ [http://www.london.gov.uk/assembly/conf-hearings/2008/june25/item05d.pdf Tim Parker's CV] ] , commonly known as Tim Parker, (born 19 June 1955) is a millionaire British businessman nicknamed the "Prince of Darkness" by labour unions for his track record of laying off workers to cut costs. In May 2008, newly-elected Mayor of London Boris Johnson appointed Parker as Chief Executive of the Greater London Authority, [ [http://ukpress.google.com/article/ALeqM5jzBXfavKrnd2D8tW8ZuGgb1bsDVg Google - UK Press Association: Boris appoints 'Prince of Darkness'] ] a position which includes managing Transport for London. Parker "agreed not to receive a salary but will get a nominal one pound a year." [ [http://londonist.com/2008/05/prince_of_darkn.php Londonist.com: "Prince Of Darkness" Paid £1 To Run GLA] ] His erstwhile colleagues expected him to use this as a launch pad for political office.

On 19 August 2008 it was announced [ [http://news.bbc.co.uk/1/hi/england/london/7569946.stm] ] that Tim Parker would no longer be chairing the TfL Board - rather Boris Johnson would retain that role. At the same time the post of First Deputy Mayor would be abolished and Tim Parker would stand down from his role as Chief Executive of the Greater London Authority - he will remain as a Special Adviser.

Private life

Tim Parker studied at Abingdon School, at Oxford University's Pembroke College, and the London Business School. From there, he joined the Thorne Group, becoming PA to the Chairman, before being elevated to CEO status in one of the companies. He is married and has four children. [http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/03/18/ccprof18.xml Telegraph.co.uk: Business profile - 'Prince of Darkness' to the rescue] ]

Career

On behalf of private equity firms, [ [http://www.managementtoday.co.uk/news/811657/private-equity-veteran-run-london-1-/ managementToday.co.uk: Private equity veteran to run London - for £1] ] Parker has been head of the British The Automobile Association, during which time he increased his own stake from £6,000,000 to £40,000,000, and CEO of car-repair firm Kwik-Fit and shoemaker Clarks. [http://uk.reuters.com/article/domesticNews/idUKL2382970920080523 Reuters: Unions warn about new London transport chief] ]

After Boris Johnson's election as Mayor of London on May 1, 2008, Tim Parker was appointed First Deputy Mayor, Chief Executive of the Greater London Authority and Chairman of Transport for London. There are those who suppose his appointment was due to an ambition to take on the unions in the transport system.

Union criticism

Parker distinguished himself as a ruthless cost-cutter to the extent that labour unions at the firms he restructured nicknamed him the "Prince of Darkness". His actions as CEO of the AA triggered a campaign by unions against private equity firms, culminating in a parliamentary enquiry on the private equity industry in 2007. [ [http://www.bloomberg.com/apps/news?pid=20601102&sid=aIg1HzJf.uOc&refer=uk Bloomberg: London Mayor Johnson's Choice of Deputy Is Criticized by Unions] ]

Politics

Parker started out in student politics while he was at Oxford University, where he chaired the Labour Club. At the time, he was considered a moderate socialist, but never a Trotskyite. After university, he worked at the Treasury under Labour Prime Minister James Callaghan's Chancellor Denis Healey. He then left politics, but returned years later as an advisor for the Conservative Party.

Sources