Encyclopedia > Kenneth Lay

  Article Content

Kenneth Lay

Kenneth L. Lay (born 1942) is an American businessman and former CEO of Enron Corporation. Lay was the CEO and chairman of Enron from 1986 until his resignation on January 23, 2002.

Lay sold large amounts of his Enron stock in September and October of 2001 as its price fell, while encouraging employees[?] to buy more stock, telling them the company would rebound.

Lay liquidated ( tranformed into currency) more than $300 million in Enron stock from 1989 to 2001, mostly in stock options.

Lay was a friend and supporter of George H. W. Bush and George W. Bush, who often had the ear of both on issues of energy policy.

During the 2000 campaign of George W. Bush, Lay was a "pioneer" - a supporter who gave more than $100,000. Enron and Lay have given the younger Bush over $600,000 during his entire political career. He was nicknamed "Kenny Boy" by George W. Bush, and was often noted by Bush at public events, before Lay's reputation was destroyed.

Curriculum vitae

1965Economist, Exxon Corporation
1969Assistant professor, George Washington University[?]
1971Assistant to a commissioner, Federal Power Commission[?]
1972Undersecretary for energy issues, Department of the Interior
1974Vice president, Florida Gas[?]
1976President, Florida Gas
1979Executive vice president, The Continental Group[?]
1981President, chief operating officer[?], Transco[?]
1984Chief executive officer, Houston Natural Gas[?]
1985Enron formed by merger of Houston Natural Gas and Internorth[?]
1990Chairman of the board and chief executive officer, Enron co-chairman, organizing committee for G-7 summit
1992Co-chairman, President Bush Re-election Committee[?] chairman, Republican National Convention[?], Houston
1992Assists with campaign of Sheila Jackson-Lee[?] to defeat Congressman Craig Washington[?]
2001Jeffrey Skilling[?] becomes CEO for a few months
2002Lay resigns as Enron CEO, leaves board

See also: Timeline of the Enron scandal.

External Link

All Wikipedia text is available under the terms of the GNU Free Documentation License

  Search Encyclopedia

Search over one million articles, find something about almost anything!
  Featured Article
Seanad Éireann

... created under the 1922 Constitution of the Irish Free State. It consisted of sixty members and was abolished in 1936. The modern Seanad Éireann was created und ...