Jeffrey Keith Skilling American businessman, former president of Enron Corporation Date of Birth: 25.11.1953 Country: USA

Biography of Jeffrey Keith Skilling

Jeffrey Keith Skilling is an American businessman and former president of the Enron Corporation. He was born in Pittsburgh, Pennsylvania and was the second of four children. Skilling grew up in New Jersey and later in Aurora, Illinois. He graduated from Southern Methodist University in 1975 with a bachelor's degree in applied sciences. He then went on to earn a master's degree from Harvard Business School in 1979.

Skilling started his career as a consultant at McKinsey & Company, where he worked on projects in the energy and chemical industries. He quickly rose through the ranks and became one of the youngest partners in the group's history. He later moved to Houston and became an analyst at the First City Bancorporation of Texas, which was a project of Enron. Skilling worked for Enron even before joining the company, helping them break into the natural gas trading market. Kenneth Lay, the former CEO of Enron, was impressed by Skilling's business acumen and eventually hired him as the chairman and CEO of Enron Finance Corp.

Skilling became the president and chief operating officer of Enron in 1997, making him the second most powerful person in the company after Lay. Under Skilling's leadership, Enron launched the internet project EnronOnline, which quickly gained popularity among energy companies. Skilling also introduced the idea that companies did not need physical assets, leading Enron to become the largest supplier of gas and electricity. However, on August 14, 2001, Skilling unexpectedly resigned from his position, citing personal reasons. It was later revealed that he had been selling his Enron stock in large quantities during this time.

Skilling was charged with 35 counts of fraud, insider trading, and other crimes related to the collapse of Enron. He pleaded not guilty to all charges. One of the key pieces of evidence against Skilling was his sale of Enron stocks worth $60 million after he left the company. The prosecution argued that Skilling knew about the impending bankruptcy and used that knowledge to profit illegally. The trial began on January 30, 2006, and Skilling's defense team challenged the selection of jurors, claiming that finding an impartial jury in Houston was impossible. Eventually, Skilling was sentenced to 24 years and 4 months in prison, as well as a $45 million fine. He began serving his sentence in December 2006 and is scheduled to be released in February 2028.

In April 2008, Skilling's lawyer attempted to overturn the court's decision, arguing that all of Skilling's financial actions were done to save the company. However, the Supreme Court denied Skilling's request in June 2010. Skilling's first marriage ended in divorce in 1997, and he has a daughter and two sons from that marriage. Tragically, his younger son, John Taylor Skilling, passed away in 2011 due to a drug overdose. Skilling remarried in March 2002 to Rebecca Carter, who was a former vice president and secretary of the board at Enron.