CASE STUDY Norman Stoller CBE Kstj DL
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CASE STUDY Norman Stoller CBE KStJ DL Norman Stoller and his team built Seton Healthcare (SSL International PLC), inventors of the tubular bandage, into a worldwide brand and one of Oldham’s biggest employers. Through the Stoller Charitable Trust, he has dedicated over 30 years to philanthropy in the North West and beyond. In the period February 2014 to end of June 2015, The Stoller Charitable Trust pledged just over £47M of which just over £7M has been drawn down. Among numerous honours, Norman was appointed High Sheriff of Greater Manchester 1999/2000, is a Life President of the Oldham Chamber of Commerce, and was granted Freedom of the Borough of Oldham in 2008. He was recently inaugurated into The Langworthy Circle at the University of Manchester, which recognises individuals who have committed over £1 million to the University, and named North-West Business Masters Ambassador 2015. Norman lives with his wife, Sheila, on the shores of Lake Windermere in Cumbria. Q: You registered the Stoller Charitable Trust in 1982 – was that the start of your philanthropy? No, when I was 36 or 37, with very little in my pocket, my friends and I still found time to do things for other people. It wasn’t a question of giving away money, it was about doing things, which is much more important. My next door neighbour started what was called the Frank Salisbury Fund for Needy Children, and a group of us got together with him to help children in need. And when Frank Salisbury died, I was asked to take it over. That’s how it all began. Then in 1982 we created the Stoller Charitable Trust through which we could do things for other people. For example, in the name of the late Lord Rhodes of Saddleworth, we brought to the UK a fantastically talented young Chinese musician, En-Shao. I brought this student over because Lord Rhodes wanted to do more for Anglo-Sino relationships. Lord Rhodes became a Minister in the Labour government and was responsible for three All-Party delegations to China. He lived in Oldham, was a First World War air gunner, and was shot in the leg, so from the time of 1917 onwards had to have his leg dressed every day with crepe bandages. Then we [Seton] released Tubigrip, which replaced the crepe bandage and he, like so many others, became a daily user. We enrolled En-Shao at the Royal Northern College of Music. The college developed his skills, and whilst there he won enormously difficult competitions and has gone on to become a virtuoso conductor to some of the world’s most famous orchestras. Then in 1990 we took our company public and I provided a tranche of shares to my Charitable Trust which, like all shareholders, received a twice-yearly dividend. All of a sudden, I had the means to say ‘yes’ to appeals for help. I can’t tell you how much of a privilege and a pleasure it is, to be able to say yes. It’s life-enhancing, and I’ve always smiled about it. IN ASSOCIATION WITH THE CENTRE FOR PHILANTHROPY, UNIVERSITY OF KENT Coutts Million Dollar Donors Report 2015 CASE STUDY: NORMAN STOLLER Q: You’ve often said that you don’t give money ‘away’, you give it ‘back’. What exactly do you mean by that? I am in a very fortunate position of having a lifestyle that I enjoy, of being able to afford anything within reason that I wish to acquire, and I find myself with far more money than I need, so why on earth shouldn’t I give some back? I liken it to people in a house: I say, “Imagine you had a lounge full of furniture, and wanted to change the suite, are you just going to pile more in? Or get rid of some?” And they say, “Get rid of some, of course”. Well, for goodness sake, how much money does one need? Maybe it’s the privilege of being 80, but I thought like this when I was 60 - I didn’t have the money then! What I had, I suppose, was enough to help people by giving donations. And over the years, our donations grew from very small beginnings – maybe £20,000 to £50,000 a year – to last year when we gave away about £1.5 million, and in the current year about £4.5 million Q: Recently you’ve been able to scale up your giving significantly – how did that come about? A young man came to see me 15 years ago and talked about his idea of selling white goods on the internet. I am always intrigued by ”tomorrow’s world”, and although the internet was the subject of a lot of suspicion at the time, I liked this young man and I liked the concept of simplifying the buying process, particularly for items that require delivery, installation and the removal of the item it replaced. I backed my judgement by joining his Board and providing the cash that he needed to survive and grow. I continued to do this with two other non-executive directors and I resigned from the Board on the evening before his company went ‘public’ in February 2014. John Roberts, the pioneer of what was originally DRL, now AO World plc, heads a company that trades in Europe as well as the UK and is doing very well. As I am still a substantial investor in the company, I confidently expect this to enable me to continue to help the causes that attract us. Q: So AO World became a public company last year. How did that help you? It transformed my opportunity to do good things, and enabled great things to be achieved – and the timing was fantastic, because 2015 is 25 years since Seton became a publicly listed company, and as I’ve said, that provided my Trust with annual income. However by selling some of my AO equity I have been able to transfer £50 million into my Charitable Trust and over £40 million has already been pledged in this jubilee year - much of it in the North West. Some of it is reflected, as funds have started to be drawn down, within the £4.5 million pounds donated in the year to March 2015, that we have discussed earlier. Q: There are, of course, many things that you could say ‘yes’ to. How did you go about deciding what the focus of your giving was to be? I am determined to help the next generation and I support brilliant initiatives like the Duke of Edinburgh’s Award. I’m also involved in healthcare, particularly research, and I’m involved in Oldham. I did a few things for Oldham and in 2008 they gave me the Freedom of the Borough – what a fantastic honour! My wife Sheila and I then went on holiday, and while we were away I said to her: “I know what I’m going to do, I’m going to start a youth club in Oldham”. When I came back, an old friend of mine wrote to me and told me that he wanted to replicate the benefits of the Bolton Lads and Girls Club in towns throughout the country. So the OnSide Youth Zone concept was born, and over the next four years – with some very hard work; the backing of the Oldham Metropolitan Council and an enthusiastic, determined and wonderful band of supporters – we created the Mahdlo Youth Zone (Oldham spelt backwards) and opened its doors in March 2012. Coutts Million Dollar Donors Report 2015 CASE STUDY: NORMAN STOLLER We now have 5,000 visits by our members every month, and we are changing the lives of our young people. Three years ago I used to talk to the kids and they’d say: “Why do I need education? My Grandfather never had a job, Dad’s never had a job, my brothers and sisters haven’t got a job.” I used to metaphorically stick them up in front of a mirror, and say: “I don’t know what you see, but I see somebody who can be anything, do anything, achieve anything, as long as they’ve got the guts, the willpower and the determination”. And why do I say that? Because I started my business life with £100 of borrowed capital, a former Post Office van with bus seats in the back, and a great deal of cheek which I have managed to retain. Young people need to believe in themselves and when they hear stories such as mine, they start to do just that. And things that are good create more things that are good. Of course Youth Zones like Mahdlo need the support of the local borough council and the help of generous and vital financial supporters, because although we charge 50p to gain entry it is very heavily subsidised. But what value for money! Not only do these Youth Zones provide a safe, warm and friendly environment, with endless things to do and experiences to gain, but the opportunity to mix with others, including the voluntary leaders. At Mahdlo we now have about 40 staff and over 140 volunteers. This country could not survive without the multitudes of unsung heroes giving not just money but giving themselves, which is much more important. The amount of experience that’s out there is enormous, so what’s better than passing it on to the next generation? Q: Other than the Youth Zones, have there been any gifts that you’ve been particularly pleased with? I have been delighted to support the building of an international-standard Concert Hall at Chetham’s School of Music, and a new organ to replace the 600 year-old model at Manchester Cathedral.