Paul Jennings, President and CEO of Innospec receiving the award from Nigel Hirst, Managing Director of Haden Freeman (left) and CIA Chief Executive Steve Elliott (Right)
12 June 2012. Paul Jennings, 55, of Neston, yesterday admitted two charges relating to alleged corrupt payments to officials in Indonesia or Iraq.
Innospec, based in Ellesmere Port, is the only remaining manufacturer in the world of tetraethyl lead, an additive used in leaded fuels.
It was formerly known as Associated Octal.
Mr Jennings joined Innospec as chief financial officer in 2003 and was chief executive from 2005 to 2009.
A statement from the Serious Fraud Office said that, appearing at Southwark Crown Court yesterday, Jennings pleaded guilty to two allegations of paying bribe to Indonesian and Iraqi officials to supply Tetraethyl Lead. This product had been banned in many countries,
Dennis Kerrison, also a former chief executive of Innospec, and Miltos Papachristos, who was at the time the regional sales director for the Asia-Pacific region for Innospec, both also were charged but pleaded not guilty to the charges.
Their trial is scheduled to start next March.
The SFO has been assisted in its investigation into Innospec by the US Securities & Exchange Commission, the US Department of Justice, Cheshire Constabulary and the City of London Police.