Nick Varney

Nick Varney
Born Nicholas John Varney
(1962-11-28) 28 November 1962
Gosport, England, UK
Occupation Businessperson
Spouse(s) Elizabeth Varney
Children 4
Website Website

Nicholas "Nick" Varney (born 28 November 1962)[1] is a British businessman who is the chief executive officer of attractions operator Merlin Entertainments. He rose to his position in 1998 after a background in marketing.

Biography

Varney attended the London School of Economics before becoming a junior marketer in the mid-1980s, later progressing to senior roles. He has over 24 years experience in the visitor attractions industry and was appointed Chief Executive Officer of Merlin Entertainments in 1999. He was later appointed a Director of the Company on 20 October 2013.[2]

Nick started his career in marketing, first with Rowntree and then with Reckitt Colman. He went on to hold senior positions within The Tussauds Group, including Marketing Director of Alton Towers and Head of Group Marketing,[3] before becoming Managing Director of Vardon Attractions and a main board director of Vardon. In 1999, Nick led the management buyout of Vardon Attractions to form Merlin Entertainments and, in 2005, initiated the process which led to its acquisition by the Blackstone Group.[4]

In 2011, he stated his belief that free admission to British museums and art galleries were primarily used by "foreign tourists and middle class people who can afford it."[5] In business circles, he is widely seen as an aggressive marketer and was quoted in 2011 as saying "if you can get out of our attractions without buying tickets for the others, well, good luck."[6]

In 2013 Nick Varney was awarded an honorary doctorate by Staffordshire University "In recognition of his considerable business success on a global scale."[7]


Legoland

Legoland was purchased in 2005.

Having completed a management buyout of Vardon Attractions in 1999, Varney wanted to purchase the Legoland parks when they came up for sale. Varney wanted to invest but his current financial investors were not interested, and therefore Merlin was sold to the Blackstone Group for £110 million in 2005. Blackstone negotiated to buy control of Legoland for approximately £250 million, then merged it with the Merlin Group. As part of the deal, KIRKBI AS, the investment arm of LEGO owners, took a share in Merlin Entertainments.[8][9]

Gardaland

Under Blackstone in 2006, Varney wished to purchase an Italian theme park, namely Gardaland.

The Tussauds Group

In 2007, Varney arranged for the purchase and merger of The Tussauds Group, owner of the Madame Tussauds celebrity wax attractions, for £1 billion. After the Tussauds acquisition, Dubai International Capital, the owners of the Tussauds Group, held 20% of Merlin Entertainment.[10]

The buyout and merger of The Tussauds Group was completed on 22 May 2007.[11] With the completion of the merger, The Tussauds Group ceased to exist as a separate entity. The control of Madame Tussauds, London Eye, Chessington World of Adventures, Alton Towers, Thorpe Park, Warwick Castle and Heide Park were passed to Merlin.

On 17 July 2007, Varney executed a deal to sell the freeholds of Alton Towers, Thorpe Park, Warwick Castle and Madame Tussauds to private investor Nick Leslau and his investment company, Prestbury.[12] Although these sites were purchased by Leslau, they continue to be operated by Merlin, with each site leased on a renewable 35-year lease.

Controversy

The Smiler

The Smiler crashed in 2015.

The Smiler is a rollercoaster located at Alton Towers. The ride has been known for a number of significant structural and technical issues since its launch. A serious incident occurred on 2 June 2015, when a fully loaded train collided with an empty test train, causing serious injuries to a number of riders.[13] Subsequently, Varney decided to close The Smiler, Saw – The Ride at Thorpe Park, and two other roller coasters at Chessington World of Adventures while safety protocols and procedures were evaluated.[14][15] The Health and Safety Executive served a Prohibition Notice upon the ride, preventing use until remedial action had been completed.[16] On 27 July 2015, it was stated by Varney that The Smiler would "not be opening this summer".[17] The Health and Safety Executive (HSE) initiated a criminal investigation which focused on the actions of two employees – a ride engineer and a ride operator – who may have failed to follow basic safety protocols leading up to the accident.[18]

In the incident's aftermath, the company saw a drop in revenue and visitor numbers, which contributed to the decision of making approximately 190 job redundancies at Alton Towers.[19] It is reported that six rides could close at the theme park in 2016 as a result of the crash.[20] In the immediate aftermath of the crash, Varney said:

This has been a terrible incident and a devastating day for everyone here. We have a very strong record of safe operation of our rides here at Alton Towers and it is our priority. I would like to express my sincerest regret and apology to everyone who suffered injury and distress today and to their families.
— Nick Varney, speaking to PRWeek after The Smiler's crash in June 2015[21]

Charity work

Varney and Merlin Entertainments established Merlin's Magic Wand in 2006. The charity believes in putting the magic back into the childhoods of seriously ill, disabled and disadvantaged children.[22]

In July 2014, Brian House in Blackpool received a brand new minibus which transformed future outings for the hospice. Merlin’s Magic Wand donated the specially adapted bus which was handed over by mascots from Merlin attractions: The Blackpool Tower, Madame Tussauds Blackpool and SEA LIFE Blackpool. The production costs of the specially designed carrier totalled over £50,000, with the vehicle being fitted with interactive features, including a DVD player, LED interchangeable lights and a Star Cloth ceiling in the hope of creating special and memorable experiences for young patients.[23]

In March 2015, new sensory changing rooms, designed to ease disabled children into the swimming pool environment, were opened at Victoria Education Centre in Poole. The new facilities were created and funded by the charity and enable disabled students to adjust from the outside world to the swimming pool with interactive flooring and atmospheric lighting.[24]

Finances

His 2014 salary was reported as being £573,000, and as being boosted by bonuses and benefits to £1.6 million.[25]

Personal life

He lives on a small holding in Dorset where he keeps pigs.[26]

References

  1. ↑ Chris Blackhurs (10 March 2010) Merlin Entertainments cashes in with a ‘monopoly’ on London attractions – Business – London Evening Standard. Standard.co.uk. Retrieved on 2013-07-09.
  2. ↑ Merlin Entertainments Executive Profiles: Nick Varney. Merlin Entertainments
  3. ↑ Sarah Bridge (6 July 2009) The Sunday Interview: Merlin Entertainments' Nick Varney. thisismoney.co.uk
  4. ↑ "Blackstone Acquires Merlin Entertainment". blackstone.com. Retrieved 30 March 2015.
  5. ↑ Alistair Osborne (16 October 2011) Cutting VAT on hotels could create 80,000 jobs. telegraph.co.uk
  6. ↑ Ruth Mortimer (23 June 2011) The man on a quest to spread Merlin's magic. marketingweek.co.uk
  7. ↑ Staffordshire University Graduates 2013 - Nick Varney awarded doctorate. staffs.ac.uk. Retrieved on 2016-03-27.
  8. ↑ "Why you shouldn't buy shares in Legoland owner Merlin Entertainment". Telegraph.co.uk. 30 October 2013. Retrieved 30 March 2015.
  9. ↑ "Tour Legoland California". CaliforniaResortLife.com. Retrieved 13 August 2015.
  10. ↑ "Tussauds firm bought in £1bn deal". BBC News. 5 March 2007. Retrieved 12 May 2010.
  11. ↑ |url=http://www.merlinentertainments.biz/en/press/new_force.aspx |date=20070621193545 |df=y Merlin Entertainments, leading name in location-based family entertainment – A New Force in Global Leisure Archive copy at the Wayback Machine
  12. ↑ "Alton Towers sold in £622m deal". BBC News. 17 July 2007. Retrieved 12 May 2010.
  13. ↑ Four seriously hurt in Alton Towers Smiler crash - Ride Rater. 2 June 2015. Retrieved 23 August 2015.
  14. ↑ "Smiler - Alton Towers". rcdb.com. Retrieved 5 June 2015.
  15. ↑ "Alton Towers And Other Parks Close Major Rides". BBC News. 5 June 2015. Retrieved 5 June 2015.
  16. ↑ http://www.ashbournenewstelegraph.co.uk/Alton-Towers-HSE-investigation-puts-prohibition/story-26642562-detail/story.html
  17. ↑ Hiscott, Graham (27 July 2015). "Alton Towers crash: The Smiler will remain closed all summer as families shun the park". The Daily Mirror. Retrieved 29 July 2015.
  18. ↑ Craven, Nick (22 August 2015). "Two workers quizzed over 'human error ' in Alton Towers horror". The Mail on Sunday. Retrieved 25 August 2015.
  19. ↑ "Alton Towers to axe 190 jobs due to Smiler incident".
  20. ↑ "Six rides to close at Alton Towers next year as a result of the smiler crash".
  21. ↑ http://www.prweek.com/article/1350007/merlin-ceo-nick-varney-fronts-response-alton-towers-crash
  22. ↑ Merlin's Magic Wand: About Us - Merlin's Magic Wand. 27 September 2015.
  23. ↑ Merlin brings the magic! - Trinity Hospice. 30 December 2015.
  24. ↑ The innovative sensory changing rooms that will help disabled children prepare for the swimming pool - Bournemouth Echo. 30 December 2015.
  25. ↑ Fury of Alton Towers girl who lost leg in rollercoaster horror as boss tells her: 'We've lost a lot of money' - Daily Mail. 27 September 2015.
  26. ↑ The Sunday Interview: Merlin Entertainments' Nick Varney - This Is Money. Retrieved 22 March 2015.

External links

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