Malott, Robert - from United States

ID: 6408
Organization: AI
Country of meeting: in the year 2016

Robert Malott, a civic-minded CEO who led FMC Corp. when the Chicago company was victimized by insider trading masterminded by Ivan Boesky. In addition to the Boesky scandal, Malott confronted another 1980s boardroom drama: the downfall of Continental Illinois National Bank. He was among 10 of its 16 directors purged after the 1984 bailout by the Federal Deposit Insurance Corp.—an action he termed "incredible."

FMC during his two decades as CEO was a defense contractor, chemical maker, and petroleum and jetway equipment manufacturer that expanded to some 70 countries. Malott made it a prerequisite to meet their leaders, including the Soviet Union's Mikhail Gorbachev, Deng Xiaoping of China and Singapore's Lee Kuan Yew.

He stayed friends with, and relied on financial and strategic advice from, a fellow director he met at an Omaha company in the 1960s: Warren Buffett, said James McClung, a former FMC international senior vice president.

Activities in the Orangization:
Lifetime Trustee