Harvey Norman co-founder Ian Norman dies

Harvey Norman co-founder Ian Norman dies

May 29, 2014 – 6:22PM

Eli Greenblat

Ian Norman, who teamed up with Gerry Harvey in 1982 to create the Harvey Norman retail chain that carries his name, has died. He was aged 75.

According to the most recent Harvey Norman annual report Mr Norman held 175 million shares in the company, valued at around $560 million.

A non-executive director of the furniture, bedding and consumer electronics group, Mr Norman first met Mr Harvey when they were both selling vacuum cleaners door-to-door.

Together, they opened their first store in Sydney in 1961, specialising in electrical goods and appliances.

Their initial success saw them establish a retail chain under the name Norman Ross which grew to 42 stores and sales of more than $240 million by 1979. The chain was sold in 1982.

The first Harvey Norman store was opened later that year in a new shopping centre in Auburn in western Sydney and listed in 1987.

The company said in a statement to the Australian Securities Exchange on Thursday that Mr Norman was an intensely private man and a generous philanthropist.

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: