Matches in DBpedia 2016-04 for { ?s ?p "Barry O'Callaghan is an Irish investment banker, businessman, and investor. He is the former chairman and CEO of Houghton Mifflin Harcourt (HMH), and the Chairman of Education Media and Publishing Group (EMPG), the Cayman Island holding company for Houghton Mifflin Harcourt.He was the largest shareholder in EMPG on its formation in 2007 with a controlling stake of circa 48%. O'Callaghan created Houghton Mifflin Harcourt, one of the largest educational publishers in the United States, by merging existing companies. Despite the rationale of the merger of Riverdeep, Houghton Mifflin and Harcourt to form HMH, the global financial crisis affected the company by first forcing a restructuring that led to a loss of value of Mr. O'Callaghan's shareholding in EMPG in late 2009, with his holding falling to approximately 22%. Then a further restructuring in early 2010, led to his stake and its value being reduced to 'almost zero'.Despite the destruction of $3.5 billion of equity value at EMPG, the conversion of approximately 60% of the debt, over $4 billion, into equity, and massive personal debts of O'Callaghan, circa $400 million, he remained for a short time as CEO of Houghton Mifflin Harcourt, after the completion of the restructuring. In 2011, O'Callaghan stepped down as CEO and was eventually replaced by Linda Zecher.On 4 April 2010, The Times described the lending practises at Anglo Irish Bank. The article quotes the new CEO, Mike Aynsley: \"hubris played a very, very big part.\" In many deals, Anglo Irish Bank would lend to wealthy individuals to further their equity participation. In many cases, Anglo took personal guarantees as security. The article in the Times notes that Anglo Irish Bank has large exposures to entrepreneurs such as O’Callaghan.The bank’s security was limited and largely to his shares in EMPG."@en }
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- Barry_OCallaghan abstract "Barry O'Callaghan is an Irish investment banker, businessman, and investor. He is the former chairman and CEO of Houghton Mifflin Harcourt (HMH), and the Chairman of Education Media and Publishing Group (EMPG), the Cayman Island holding company for Houghton Mifflin Harcourt.He was the largest shareholder in EMPG on its formation in 2007 with a controlling stake of circa 48%. O'Callaghan created Houghton Mifflin Harcourt, one of the largest educational publishers in the United States, by merging existing companies. Despite the rationale of the merger of Riverdeep, Houghton Mifflin and Harcourt to form HMH, the global financial crisis affected the company by first forcing a restructuring that led to a loss of value of Mr. O'Callaghan's shareholding in EMPG in late 2009, with his holding falling to approximately 22%. Then a further restructuring in early 2010, led to his stake and its value being reduced to 'almost zero'.Despite the destruction of $3.5 billion of equity value at EMPG, the conversion of approximately 60% of the debt, over $4 billion, into equity, and massive personal debts of O'Callaghan, circa $400 million, he remained for a short time as CEO of Houghton Mifflin Harcourt, after the completion of the restructuring. In 2011, O'Callaghan stepped down as CEO and was eventually replaced by Linda Zecher.On 4 April 2010, The Times described the lending practises at Anglo Irish Bank. The article quotes the new CEO, Mike Aynsley: \"hubris played a very, very big part.\" In many deals, Anglo Irish Bank would lend to wealthy individuals to further their equity participation. In many cases, Anglo took personal guarantees as security. The article in the Times notes that Anglo Irish Bank has large exposures to entrepreneurs such as O’Callaghan.The bank’s security was limited and largely to his shares in EMPG.".