Andrew G. C. Sage

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Andrew G. C. Sage II
Born
Andrew Gregg Curtin Sage II

Template:Birth year and age
Known forLBO of RJR Nabisco
Board member ofLehman Brothers
RJR Nabisco
Standard Brands
General Motors
American Superconductor
Tom's Foods
Worldport Communications[1]
Computervision[2]
Spouse(s)Sara Wakefield[3]

Andrew G. C. Sage II is an American business consultant who played a key role in the leveraged buyout of RJR Nabisco during late 1980s. Sage served as a consultant to the board of directors of RJR Nabisco and to CEO F. Ross Johnson. In addition, Sage was as a managing partner of Shearson Lehman Brothers, and served as a director of multiple public companies, including Standard Brands, General Motors, American Superconductor, and Lehman Brothers.

Career[edit | hide all | hide | edit source]

Sage joined Lehman Brothers in 1948 and became a partner in 1960. He had also been a member of Lehman's predecessors, Shearson Lehmon Brothers and Lehman Brothers, Kuhn, Loeb Inc; ie stepped down from Lehman's board in 1976 along with seven other partners.[4] He was elected a director of General Motors in 1970, Computervision in 1991, Tom's Foods in 1993, American Superconductor in 1997, and Worldport Communications in 1999.[1][2]

Additionally, he was the President and CEO of Robertson-Ceco Corporation, a metal buildings manufacturing company, before it was acquired by NCI Building Systems in 2006, and the CEO of Sage Capital Corporation, a general business and financial management corporation specializing in business restructuring and problem solving.[1]

Leveraged Buyout of RJR Nabisco[edit | hide | edit source]

As a partner of Lehman Brothers, Sage played an advisory role Nabisco's board in its $4.9 billion acquisition by R. J. Reynolds Tobacco Company, and sat on the Nabisco board as a result of the merger.[5][6]

During the leveraged buyout of RJR Nabisco, considered the biggest deal of its time and a preeminent example of corporate greed,[7] Sage drew a consulting fee of $250,000 per year as the "all-purpose adviser to Mr. Johnson."[8][9][10]

Personal Life[edit | hide | edit source]

Sage is the great-grandson of William H. Sage, whose father, Henry W. Sage, helped found Cornell University.[3] His father, Andrew G. C. Sage Sr., was a major shareholder of American Tobacco Company.[8] In 1956, Sage married Sara Wakefield.[3]

References[edit | hide | edit source]

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  9. Burrough, Bryan; Helyar, John (2009). Barbarian's at the Gate: The Fall of RJR Nabisco. Harper Business.
  10. Template:Cite