George Simpson, Baron Simpson of Dunkeld
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George Simpson, Baron Simpson of Dunkeld (born Dundee, 2 July, 1942) is a Labour member of the House of Lords. He was made a Life Peer in 1997.
As previous CEO of Marconi plc he has the dubious honour of presiding over one of the largest collapses in British corporate history. Simpson joined GEC in 1996 as Managing Director. In 1999 he sold GEC's defence business, Marconi Electronic Systems, and repositioned the company as a major player in the telecommunications industry as Marconi plc. Marconi borrowed heavily to finance expansion into this market and was especially vulnerable to the burst of the dot-com bubble. After two profit warnings and a collapse of almost £33bn in the company's value Simpson and two other board members were forced to resign.