Tim Yeo is Chairman of Univent plc, on the board of Eurotunnel and the non-executive chairman of both Eco City Vehicles plc and AFC Energy plc. In his spare time he is an MP.
Yeo came to Guido’s attention back in Feburary when the Parliamentary Room Bookings records were released showing how green-fingered Tim had opened up the parliamentary estate to prospective investors in green technology firms. You may remember what happened when he was confronted about his mixing of politics and business live on Newsnight:
MPs are electing the Chairman of Select Committees for the first time. These vital scrutineers must hold ministers to account. Guess who is front-runner to take Energy and Climate Change? Step forward Tim Yeo.
Yeo’s dealings with AFC Energy are particularly interesting. As Guido reported before;
At the time AFC Energy plc were raising £2 million from environmental investors, and for each of the following five months AFC Energy paid Tim Yeo £3,750 a month (up to a total of £18,750) until in December when they succeeded in raising the £2m they were seeking from environmental investors in a share placing. Tim also got a bonus when the shares were placed with investors of 150,000 shares for his work. All in all he made a total of some £80,000 out of the AFC deal from July when he hosted the Environmental Investment Network event until December when they sold the shares to investors.
MPs look set to elect a man completely tied up with an industry that he would be responsible for the checks and balances on. He would need cross party support to get the job. Perhaps members might like to take another look at their favoured candidate.