South Africa's Bill Lynch named Ernst & Young 200 World Entrepreneur Of The Year

Monte Carlo, Monaco , 2006-06-12

Bill Lynch, CEO of South Africa's Imperial Holdings, was last night named the 2006 Ernst & Young World Entrepreneur Of The Year at a glittering awards ceremony held in Monte Carlo's Grimaldi Forum. The ceremony marked the culmination of the Entrepreneur Of The Year World Summit, which brought together hundreds of the world's most respected entrepreneurs for three days of dialogue, learning and networking.

Lynch, who built Imperial into South Africa's largest transport and mobility conglomerate after arriving there in 1971 with just GBP 2,000 and no job, was picked from a strong field of 32 national winners in this, the sixth annual World Entrepreneur Of The Year competition. Today Imperial Holdings has annual revenues of EUR 6.5 billion across seven synergistic divisions (integrated logistics solutions; fleet management; vehicle and forklift leasing; aviation operations, sales and leasing; car rental and tourism; motor vehicle importation, sales and after-sales services; and related financial services) and employs 36,000 people on three continents.

Chairman of the nine-member independent judging panel, Sunil Bharti Mittal, founder of Bharti Enterprises and 2004 India Entrepreneur Of The Year, said, "Bill is the epitome of an entrepreneur - he started with nothing, but he grew an amazing business over thirty years, and today makes a huge positive impact in South Africa. He does that not only through the jobs he creates but also through the training, education and other community support Imperial provides."

"This year there was a particularly strong field of country winners to choose from, so the judges had a very difficult decision to make," said Greg Ericksen, Ernst & Young's Global Vice-Chair for Strategic Growth Markets. "Bill has seen it all and done it all and is a great role model for entrepreneurs everywhere with his love of business and hard work," he continued.

"What has been the special feature of the 20 years of the Entrepreneur Of The Year program has been the amazing story that each entrepreneur has to tell," said Ernst & Young Chairman and CEO James S. Turley. "Bill's story is a classic one: he started from humble origins and through hard work and smart diversification built a multi-billion dollar international business."

About Bill Lynch and Imperial Holdings

With only a village school education and a love of business from the day he began work in a garage in rural Ireland, Bill Lynch today is chief executive of South Africa's largest transport and mobility group, Imperial Holdings.

In 1971, at age 27, Lynch came to South Africa with his wife Ann, GBP 2,000, no job and few prospects during a worsening recession. He joined Imperial Motors, a car dealership losing EUR 12,345 a year. Lynch led a turn-around, applying disciplines that were second nature to a manager raised in poverty.

In 1973 he acquired 10% of Imperial--preferring to take a risk and buy 10% rather than accept a 5% stake for free. He led a growth strategy, with diversification into truck hire, logistics, car rental and leasing.

Imperial listed in 1987 at 9 cents a share versus EUR 21 today. In 1990, Lynch became Imperial's executive chairman and showed his faith in SA's future by driving further expansion, transforming the core Toyota dealership into a multibrand network, among other initiatives. At the time, many predicted SA's descent into political and economic collapse. In 1998-99, Imperial expanded offshore, buying Thyssen-Krupp's European logistics business and moving into aviation leasing.

Turnover since South Africa's democratic transition is up 28-fold.

About Entrepreneur Of The Year

Ernst & Young Entrepreneur Of The Year is the world's most prestigious business award for entrepreneurs. Recognized globally, the award provides a unique way of encouraging entrepreneurial activity and recognizing the contribution of outstanding men and women who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Ernst & Young Entrepreneur Of The Year celebrates those who are building and leading successful, growing, and dynamic business, recognizing them through regional, national, and global awards programs in over 115 cities and more than 30 countries.

About Ernst & Young

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