Tom Brook (businessman)
Thomas Lloyd Brook | |
|---|---|
| Born | Template:Birth date Pelham, New York, United States |
| Died | August 2, 1981 (aged 73) |
| Occupation(s) | Businessman, sports executive |
| Known for | President of Asamera Oil Corporation; President of Calgary Stampeders football team |
Thomas Lloyd Brook (January 27, 1908 – August 2, 1981) was a businessman originally from the United States who later became a Canadian citizen. He served as president of both the Asamera Oil Corporation and the Calgary Stampeders football team.
Early life
Born in Pelham, New York to parents John Thomas and Fanny (Dean) Brook, he completed his education at Amherst College. Brook began his career in investment on Wall Street in 1927 before relocating to Toronto in 1936.
Asamera Oil
Brook joined the New British Dominion Oil Company based in Calgary in 1941, acquiring a stake and restructuring the organization. By 1943, he had risen to the position of president. Under his leadership, the company expanded its assets to include gas wells in the Peace River Country, oil and gas operations in Central Alberta, gas wells in southeastern Alberta, as well as oil wells in the United States. By 1955, their gas reserves totaled 175 billion cubic feet.
In 1956, Brook took on the presidency of Northwest Nitro-Chemicals, a joint enterprise between New British Dominion and Commercial Solvents Corporation. This venture operated a chemical plant in Medicine Hat, producing fertilizer from natural gas supplied by New British Dominion. He stepped down from this role in 1957 to concentrate fully on New British Dominion.
That same year, New British Dominion entered into a partnership with Sea Oil and General Corp., a subsidiary of Baud Corp. N.V., to pursue oil exploration activities in Indonesia. The company was subsequently renamed Asamera Oil Co., with Baud receiving shares as compensation for its Indonesian oil rights. In 1961, Asamera secured Indonesia's inaugural production sharing agreement awarded to a foreign entity since the country's independence.
Calgary Stampeders
Brook assumed the presidency of the Calgary Stampeders football team in 1948. He appointed coach Les Lear and personally guaranteed the players' salaries. That season, the team achieved an undefeated record and captured the 36th Grey Cup. The Stampeders returned to the Grey Cup final in 1949 but were defeated by the Montreal Alouettes. At a Canadian Rugby Union meeting in 1949, Brook successfully opposed a proposal to modify the Grey Cup into a two-legged home-and-home series decided by aggregate points. His contributions were recognized with induction into the Canadian Football Hall of Fame in 1975.
Later life
Brook retired as chairman and CEO of Asamera Oil Corporation on May 3, 1977. Later that month, Asamera revealed to the United States Securities and Exchange Commission that Brook maintained an undisclosed bank account in Bermuda containing over $1 million. He agreed to pay $845,513 as part of a settlement that led an Asamera subsidiary and its partners to withdraw legal proceedings against him. In 1978, the Supreme Court of Canada ruled that Brook owed Baud Corp N.V. $812,500 for failing to return 125,000 shares of Asamera loaned in 1957. He passed away on August 2, 1981.