Teddy Boyd: An appreciation
4 Aug 08
Teddy Boyd, who died in March aged 79, was regarded as one of the most talented accountants of his generation, writes his son, Richard Boyd
by Richard Boyd
Boyd was born in Bearsden, Glasgow in 1928, and he lived in Rhu for more than 50 years until his death. He served his accountancy apprenticeship at the Glasgow firm of McClelland Ker under Sir Andrew Macharg and Sir Ian Bolton. He qualified with distinction and was a partner at the age of 25.
In 1962 he joined one of his clients – the shipbuilding and
industrial conglomerate, Lithgow Group. He remained there for 25 years, much of the time battling against the steady demise of its shipbuilding interests, until these were nationalised in 1977.
The problems of shipbuilding taught him to suspect that whatever could go wrong probably would, and to prepare accordingly. Boardroom colleagues are unanimous about his ability to “see round corners”.
In 1966 Boyd was appointed managing director of the struggling whisky company Invergordon Distillers. Having initiated a recovery strategy, he resigned as MD,remaining on the board until a management buy-out in 1988.
From 1968 until his retirement in 1994, Boyd was a director and financial adviser to the Glasgow-based Denholm Group. In the 1970s, he joined the boards of Stakis, Nairn & Williamson, GB Papers, Carlton Industries, Jebsens Drilling, and Gartmore European Investment Trust.
In the 1980s, he joined Scottish Widows, English & Caledonian Investment, Bank of Scotland and Yarrow. In 1985 he became deputy chairman of the British Airports Authority, in preparation for its privatisation and stock market flotation as BAA in 1987.
He had a number of other directorships, at one time serving 16 companies. Boyd was quietly proud to be a Scot and particularly pleased to be President of ICAS for 1982-83. He served at various times as a governor of Larchfield School, Lomond School, and Glenalmond College, and on the congregational board of the West Kirk of Helensburgh.
In 1956 he married his life’s love, Judy Scott. They had two daughters, two sons, and 11 grandchildren.
He is survived by them all except his eldest daughter Maureen who died in 1993.
Boyd’s quick, wry, and frequently subversive wit is widely remembered. He identified two activities guaranteed to kill a man: eating salad and taking exercise. He died while doing the latter – walking with his wife. The irony would not have been wasted on him, and he might have made a last quip: “Thank God it wasn’t the salad!”!