Andrew G. C. Sage II
| Andrew G. C. Sage II | |
|---|---|
| Born | Andrew Gregg Curtin Sage II 1927 (age 96–97) |
| 💼 Occupation | |
| Known for | LBO of RJR Nabisco |
| Board member of | Lehman Brothers RJR Nabisco Standard Brands General Motors American Superconductor Tom's Foods Worldport Communications[1] Computervision[2] |
| 👩 Spouse(s) | Sara Wakefield[3] |
Andrew G. C. Sage II is an American business consultant who played a key role in the leveraged buyout of RJR Nabisco during late 1980s. Sage served as a consultant to the board of directors of RJR Nabisco and to CEO F. Ross Johnson. In addition, Sage was as a managing partner of Shearson Lehman Brothers, and served as a director of multiple public companies, including Standard Brands, General Motors, American Superconductor, and Lehman Brothers.
Career[edit]
Sage joined Lehman Brothers in 1948 and became a partner in 1960. He had also been a member of Lehman's predecessors, Shearson Lehmon Brothers and Lehman Brothers, Kuhn, Loeb Inc; ie stepped down from Lehman's board in 1976 along with seven other partners.[4] He was elected a director of General Motors in 1970, Computervision in 1991, Tom's Foods in 1993, American Superconductor in 1997, and Worldport Communications in 1999.[1][2]
Additionally, he was the President and CEO of Robertson-Ceco Corporation, a metal buildings manufacturing company, before it was acquired by NCI Building Systems in 2006, and the CEO of Sage Capital Corporation, a general business and financial management corporation specializing in business restructuring and problem solving.[1]
Leveraged Buyout of RJR Nabisco[edit]
As a partner of Lehman Brothers, Sage played an advisory role Nabisco's board in its $4.9 billion acquisition by R. J. Reynolds Tobacco Company, and sat on the Nabisco board as a result of the merger.[5][6]
During the leveraged buyout of RJR Nabisco, considered the biggest deal of its time and a preeminent example of corporate greed,[7] Sage drew a consulting fee of $250,000 per year as the "all-purpose adviser to Mr. Johnson."[8][9][10]
Personal Life[edit]
Sage is the great-grandson of William H. Sage, whose father, Henry W. Sage, helped found Cornell University.[3] His father, Andrew G. C. Sage Sr., was a major shareholder of American Tobacco Company.[8] In 1956, Sage married Sara Wakefield.[3]
See Also[edit]
References[edit]
- ↑ 1.0 1.1 1.2 "WORLDPORT COMMUNICATIONS, INC. 10K FILING". United States Securities and Exchange Commission. April 30, 2002. p. 3. Retrieved March 5, 2018.
- ↑ 2.0 2.1 "American Superconductor Corp, Executive Profile - Andrew G. C. Sage II". Bloomberg. Retrieved March 5, 2018.
- ↑ 3.0 3.1 3.2 Quincey, Sam (July 29, 1956). "SARA WAKEFIELD BECOMES ENGAGED; U. of North Carolina Alumna to Be Married in Autumn to Andrew G.C. Sage 2d". New York Times. Retrieved March 5, 2018.
- ↑ Cole, Robert (September 30, 1976). "7 Partners Relinquish Posts On Lehman Brothers Board". New York Times. p. 74. Retrieved March 5, 2018.
- ↑ Sterngold, James (June 27, 1985). "SHEARSON'S 'NEW' LEHMAN". New York Times. Retrieved March 5, 2018.
- ↑ "R. J. Reynolds Makes $4.9-Billion Offer to Buy Nabisco Brands". Los Angeles Times. June 3, 1985. Retrieved March 5, 2018.
- ↑ Fundamental Corporate Changes: Causes, Effects, and Legal Responses, "The Biggest Deal Ever, 1989 (1), Duke Law Journal, February 1989
- ↑ 8.0 8.1 "R.J. Reynolds". Retrieved March 5, 2018.
- ↑ Burrough, Bryan; Helyar, John (2009). Barbarian's at the Gate: The Fall of RJR Nabisco. Harper Business. Search this book on
- ↑ Helyar, John (November 9, 1988), RJR Nabisco Board Asserts Independence In Buy-Out Decisions, Wall Street Journal, p. A1
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