George Shaheen
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George T. Shaheen (born July 11, 1944) is an American businessman. He became chief executive at management consulting firm Andersen Consulting in 1989,[1] and in 1999 became CEO of Webvan.[2] Shaheen was CEO of Siebel Systems from 2005 until 2006.[3]
Early life and education
George Shaheen was born in 1944[4] and grew up with his twin Gerald in Elmwood, Illinois.[5] Shaheen is an American of Lebanese descent.[6] At age 13[5] he worked at the family grocery shop in town. He holds a master's degree in finance from Bradley University, graduating in 1967 and going to work at Arthur Andersen.[5]
Career
Andersen
He was sent by Arthur Andersen in 1977 in South Bend, Indiana and moved in 1986 to Silicon Valley.[5] He became the chief at Andersen's consulting arm in 1989, and "oversaw the move to set up Andersen Consulting as a free-standing unit."[5] He was chief executive at management consulting firm Andersen Consulting from 1989.[1] At Andersen, as CEO "its revenue increased from $1.1 billion to $8.3 billion."[1] He was CEO until 1999, before moving on to online grocer Webvan.[2] The move "shocked colleagues" at Andersen Consulting.[7] After he left Andersen Consulting, it was renamed Accenture,[2] and Shaheen missed out on the windfall of the Accenture initial public offering.[8]
Webvan
He joined Webvan while it was "one of the largest start-ups during the Dot-com Bubble," with plans to deliver online grocery orders within 30 minutes.[9] His Webvan employment agreement, signed September 19, 1999 was filed with the SEC.[10] Under Shaheen, the company underwent an IPO in November 1999, raising $375 million with stocks soaring, and the company valued at $8.45 billion.[1] Shares afterwards dropped sharply[11] with the dotcom bubble.[1] He resigned as CEO of WebVan in April 2001.[4][11] His retirement pack included collecting $375,000 each year for the rest of his life from WebVan.[1] Webvan declared Chapter 11 bankruptcy in 2001.[9] When the company filed bankruptcy, Shaheen became an unsecured creditor.[12] In 2010, Business Insider named him one of the 15 Worst CEOs in American History, citing his involvement with Webvan.[9]
Siebel Systems
Appointed on April 13, 2005,[13] in 2005–2006, Shaheen was CEO of Siebel Systems, Inc.[3] and served as CEO when it merged with Oracle[14] in 2005, five months after his appointment as CEO.[15] He had joined the Siebel Systems board in 1995, and he remained a director after becoming CEO.[13] He did not stay on with Oracle after the merger.
In 2013, he was on the board of [24]7.[16]
Cultural references
George Shaheen was the target of parody cartoon Bigtime Consulting, which parodied Andersen Consulting and had a very similar CEO character named George Unseen.[17]
Personal life
In 1999, he lived in Silicon Valley.[5] He has been married to Darlene Shaheen since 1984.
References
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- ↑ a b George Shaheen Named To Board Of Directors At Closedloop Solutions Corporate NewsWire Press Release BizWiz Company News BizWizWire Script error: No such module "webarchive".
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- ↑ Prominent Lebanese Americans - AMALID.COM Script error: No such module "webarchive".
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- ↑ a b Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1". "The company's list of unsecured creditors will include Webvan's former CEO George Shaheen, who resigned in April, triggering a clause in his contract that required the company to pay him $31,250 per month for the rest of his life. With the bankruptcy, Shaheen "will have to get in line with the rest of our creditors," Grebey said."
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