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The real Eddie Davies

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1The real Eddie Davies Empty The real Eddie Davies Mon Oct 05 2020, 13:15

Ten Bobsworth


El Hadji Diouf
El Hadji Diouf

I never met Eddie Davies. I wish I had but I was able to attend his memorial service. Here's a  eulogy from someone who knew him very well. Apologies to those who may have read it before.

 Eddie Davies Eulogy
 
It is an honour to be given the opportunity to say a few words about Eddie and his time at Strix.
Eddie was a man of many facets .
He was a man who meant different things to the many people he met throughout his 22 years at Strix.
I have heard Eddie described in many ways by  employees , colleagues , customers  and suppliers  as well as the government and industry leaders who met and worked with Eddie over those years.

Just some of them are .....

Energetic ,determined ,decisive , intelligent , enigmatic ,relentless ,analytical , amusing ,vigorous ,imaginative , innovative  , entertaining ,....and sexy ......or ,at least , that’s what he told me!!

Certainly a man with integrity.

Perhaps his over-riding mantra was;

Imagination + Determination = Success

Eddie would challenge yet encourage everyone to stretch their imagination about what was possible and necessary to deliver success.

A summary of some of his favourite phrases many help to give you an insight into his character ;

...Avoid lazy thinking
....You never retire from Strix ....you just spend less time at work
...Teamwork is a high- contact sport
....Strix is like a freight train - we carry no passengers

...If I agree with you we will both be wrong
... When negotiating ....listen twice as much as you speak
...Focus on the things you can influence and less on the things you cannot control
...Is it too late to rule by fear
...There are only 2 choices .....change the plan OR change the team

...Everyone makes some contribution, but once there is a net deficit , it is time for a change
....You may be right. ,BUT ... we cannot afford for you to be wrong
....Do the right thing......Not the easy thing , and Not the popular thing
.... This is not a court of law......there comes a time when you have sufficient information and a decision needs to be taken......you should not wait for proof positive

...No problem is totally new....immerse yourself in it and options and solutions will emerge.
....You will only know if you have made the right decision with the benefit of hindsight

And lastly...
.... There are only 3 types of people ....those who can make things happen ,those that watch things happen , and those who don’t now what has happened!!

Eddie was a thinking man .......a man who thrived on detail ,searched out market intelligence from all corners of the globe and from all possible sources ,taking  time to digest and synthesise this information and look for alternatives before deploying an agreed plan with determination and a deep desire to win.

He was a man with formidable intelligence , skills , talent and knowledge who used these attributes to the fullest extent to achieve considerable success and recognition over more than 20 years.
Strix is undoubtedly the global leader in its market and the name of Eddie Davies is synonymous with that of the company in many parts of the world.

Eddie steered Strix , ‘that little company in the Isle of Man ‘ from humble beginnings based in the old Cosy Cinema in Castletown (where his office was in the Projection Room)...................To a company with a truly global reach which today has a market capitalisation of £300million .

In closing, Eddie was an outstanding businessman , a man of character ......a true leader , tough and demanding but always more demanding of himself than others.

To many of us, Eddie became a friend as well as a colleague..........we will all miss those dinners , texts and jokes.

He would often say,’some people leave bigger holes than others’...
Well Eddie, you have left a huge hole in all our lives!!

2The real Eddie Davies Empty Re: The real Eddie Davies Wed Oct 07 2020, 08:27

Ten Bobsworth


El Hadji Diouf
El Hadji Diouf

And now that all that's left to mark Eddie's benevolence to BWFC is his name on the doors of the President's Suite and Academy here's a bit more to remind us about the real Eddie Davies. This time its from SKY's Ian King. Once again apologies to those who have  read it before.

Ian King, business presenter
Read the latest speeches from the likes of [You must be registered and logged in to see this link.]  and [You must be registered and logged in to see this link.]  and one could be forgiven for assuming most business leaders are rapacious, callous souls with no thoughts other than to enrich themselves and - possibly - their shareholders.
There probably are some business folk out there like that, but they are decidedly in the minority. Most are just as thoughtful, caring and considerate as every other human being.
And, every so often, there comes along an exceptional business person who does fantastic things for wider society without making a big song and dance about it. Tragically, we have just lost one such individual.
Eddie Davies, who died last week aged 72, is perhaps best known for his bankrolling of Bolton Wanderers.

During that time, the club enjoyed more than a decade in the Premier League, four successive top-eight finishes and its first campaigns in Europe.
It was the millions he invested that bankrolled Sam Allardyce's successful management of the Trotters and enabled the signing of globally-recognised stars such as Jay Jay Okocha, Nicolas Anelka, Youri Djorkaeff, Bruno Ngotty, Ivan Campo and Fernando Hierro.
When he handed over control of the club in March 2016, following the most successful period in its history, he wrote off £171m in loans he had made to it and left it with an extra £15m as a farewell gift.
His passing has prompted an outpouring of love and affection, both from within football and across the North West.
The actor and comedian Paddy McGuinness summed up the feelings of many when he praised Ed for investing millions of pounds of his money "putting a smile on the faces" of Bolton supporters.
His backing of Wanderers reflected his pride in where he came from.
Born into a working class family in Little Lever, a village two-and-a-half-miles away from Bolton, he was educated at nearby Farnworth Grammar School. Alan Ball, one of England's 1966 World Cup-winning team, was a contemporary.
Ed became a Bolton supporter as a boy when, in 1958, the Trotters - led by Nat Lofthouse - won the FA Cup.
But his hometown club, which paid tribute with a minute's applause and wreath-laying ceremony before last Saturday's home match with Queen's Park Rangers, was merely one of a number of local institutions and organisations that Ed backed generously.
He was, for example, to have been the guest of honour at the opening of the Egyptology Gallery at Bolton Museum on Saturday, having helped finance it.
As a child, he had developed a passion for art and culture at the museum, eventually inspiring him to become a collector of paintings and ceramics.
Another local institution he supported was the Royal Bolton Hospital. It received £200,000 from him towards a new coronary care unit after Ed underwent a heart bypass operation in 1996.
He also donated towards the original National Football Museum just up the road in Preston.
Ed, who never lost his warm Lancashire accent, once said: "I have got Bolton written through me like [a stick of] rock. I have been born and bred in Bolton and, although I travel all over the world, I still pick up the paper to find out what's happening in Bolton. I'm still a Bolton lad at heart."
Other institutions Ed supported included Alliance Manchester Business School (AMBS), where he studied during the 1980s, for which he funded a Chair in Entrepreneurship.
The AMBS library was renamed the Eddie Davies Library in 2004 in recognition of his generous support of library services at the university (full disclosure: Ed was also chair of the AMBS Advisory Board, to which he recently recruited me).
Further afield, he was a generous supporter of the Victoria & Albert Museum, to which he donated many of the pieces of art he had collected, and the museum named its Edwin and Susan Davies Galleries in honour of him and his wife Sue.
His donations of more than £1m also helped construct the much-admired Davies Alpine House at the Royal Botanic Gardens in Kew.



Ed was able to make these generous contributions because of the wealth he accumulated during a successful business career.
After graduating with a degree in mathematics from Durham University, he joined the Lancashire-based Scapa Group, then an industrial manufacturer of paper, travelling around the world in its employ and at one stage running its Latin American operations from Brazil during a difficult period of runaway inflation.
In 1984 and still in his 30s, he was headhunted to run Strix Group - a two-year-old manufacturer of thermostats for electric kettles based on the Isle of Man - by its founder and inventor John Taylor.
Within a few years, it was the world's biggest supplier of heating controls for kettles, and by the turn of the century it accounted for around three-quarters of global supplies.
Its devices were by then found in kettles in around one in five homes around the world and used an estimated one billion times daily.
The pair sold the business to private equity in 2005 but Ed stayed on as non-executive and continued to hold a modest stake in the business.
He remained proud of Strix, which floated on the stock market in August last year, arguing its prospects remained as strong as ever.
Business people and entrepreneurs do not always get credit for their wider contribution to society. Some, like Ed, do not actively seek it.
Yet the world would be worse off without such people. It is certainly worse off without Eddie Davies. We could do with a few more like him.

3The real Eddie Davies Empty Re: The real Eddie Davies Thu Oct 08 2020, 13:06

Ten Bobsworth


El Hadji Diouf
El Hadji Diouf

I'm pleased to see that a few people have taken a look at this thread. I know there are a lot of unappreciative sods who couldn't give a monkey's about how much Eddie spent on BWFC but for the benefit of anyone who is interested, its maybe worth correcting one or two misconceptions.

Eddie wasn't 'born into a working class family in Little Lever'. He was born in Salford, given up for adoption and given the name of his adoptive father, Edwin Davies.

And I don't think you can objectively say that the achievements under Sam Allardyce was 'the most successful period in its (the club's) history'.

When Eddie wrote off the loans in 2016, the £15m left in was more to safeguard the club from asset-stripping than a parting gift. £5m of this was written off later by Eddie and the other £10m written off as part of the FV acquisition.

We'll leave the 2016 transfer of ownership there for the moment. The incompetence and, dare I say, malevolence of the BN at this time led to all manner of misunderstandings and misrepresentations, sadly not for the first or the last time.

4The real Eddie Davies Empty Re: The real Eddie Davies Thu Oct 08 2020, 13:11

T.R.O.Y.


Andy Walker
Andy Walker

Certainly appreciate everything he did for the club, clearly a good and very generous man.

Not sure what the point of the thread is though.

5The real Eddie Davies Empty Re: The real Eddie Davies Fri Oct 09 2020, 09:06

Ten Bobsworth


El Hadji Diouf
El Hadji Diouf

I've often wondered, how is it possible for any middle-aged man of average intelligence to be oblivious of the fact that money invested in successful companies might result in the investments increasing in value? 

I took a look at the value of Strix shares this morning. Guess what, their value has increased by 66% over the last three years. I wish I'd bought some but I do hope that Eddie didn't have to sell all of his.

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