Who's who in Executive Outcomes?
Executive Outcomes' corporate structure is a maze of companies - many registered in places where there is little information made available to the gemeral public. However, the operations are controlled by just a few select individuals. Here's your guide to the men behind the companies:

Executive Outcomes is one of a number of 'private security' organisations offering its services to third world countries, particularly those in Africa. Most of the countries which use its services are desperately poor but have significant mineral and oil resources. Therefore EO appears to be paid through concession deals offered to associated companies, which then foot EO's bill.

In general EO's operations seem to reflect British and/or South African foreign policy in the area. This, together with the 'ground intelligence' provided by EO to South African and British intelligence (and Australia, Canada, US and New Zealand under the UKUSA arrangement) probably explains why the organisation has survived and prospered.

Connections with Sandline

An associated organisation, Sandline, seems to carry out operations under similar arrangements to EO but with a greater British involvement. Sandline is owned by a nominee shareholder, Adson Holdings. At the PNG Commission of Enquiry into Sandline's contract with the PNG government, Tim Spicer denied that Sandline was part of Executive Outcomes. However the Enquiry concluded that the 'controllers' of Sandline International were obviously Anthony Buckingham, Michael Grunberg and at least to some extent Mr Spicer. It said Executive Outcomes was a 'significant' sub-contractor of Sandline and 'suppled a significant number of the personel' brought to PNG by Sandline.

The Commission also inspected documents in Hong Hong including a Hong Kong bank account in the name of Sandline Holdings. The signatories were Simon Mann, Lafras Luitingh, Eeben Barlow and Anthony Buckingham. This, together with the degree of cooperation evident between Sandline and EO, suggests that Sandline is simply one part of the overall set-up and the division is largely on paper.


Executive Outcomes' corporate structure is highly elaborate and winds around the globe. It is constantly evolving and changing. Therefore all I can present here is a generalised snapshot.

In simple terms the organisation falls into two halves; companies providing services (telecommunications, management, recruitment, transport etc), and companies providing or developing income through the exploitation of mining concessions. The latter usually have some connection with Anthony Buckingham, Robert Friedland or Ranesh Saxena.

There are two companies called Executive Outcomes. One is based in the UK, the other in Pretoria, South Africa. The South African company is controlled by a Bahamas-registered company called Strategic Resources Corporation.

Key Personnel

Here are some details of some, but not all, of the key personnel involved with Executive Outcomes and companies with which it has links.

Luther Eeben Barlow

Security expert

Aged 42

South African National.

Special Forces background.

Barlow probably co-ordinates the military and security know-how and planning for the organisation. Several sources have told me that he was involved with the Civil Cooperation Bureau's Western European operation based in Knightsbridge, London. They suggest that because of this involvement he may have changed his name at some point in the past.

Barlow is a director and shareholder of UK companies Executive Outcomes Ltd and Advanced Systems Communications Ltd. He became a director of Executive Outcomes on 7th September 1993 (principal activity described as 'consultancy in security management systems'). Barlow himself describes Executive Outcomes as a 'military advisory company' offering its services to Governments with internal problems. He became a director of Advanced Systems Communications (satellite communications and equipment design and manufacturing) in August 1994. Last Summer he told the press that he had resigned from Executive Outcomes. However as of January this year he was still a director of the UK company Executive Outcomes Ltd.

Simon Mann

Computer software expert

Aged 46

Computer Consultant.

Special forces background.

Mann probably helps co-ordinate the massive computing and communications resources needed by the organisation.

Mann was a director of UK companies QDQ Systems Ltd and its holding company Meridian Technology Ltd until November 1986. He was also a director of UK companies Data Integrity plc and Data Integrity (Holdings) Ltd until 1989. These companies provided secure software to financial institutions.

Between April 1990 and October 1993 Man was director and shareholder of a UK company called Highland Software Ltd. A Lloyds broker, Johnathan Hart, was also a director. Significantly, one address for the company was on the 2nd Floor of 22 South Audley Street, London. Sir David Stirling, the former SAS commander and pioneer of the concept of private armies, based his company, KAS on the first floor.

Michael Grunberg*


Aged 41

Grunberg probably performs the role of advisor on the most efficient tax structures, transfers of funds, and international property and commercial law. He is the brains behind EO's labyrinthine corporate structure.

He was a partner in Stoy Hayward (now BDO Stoy Hayward) from 1981 to June 1994. BDO Stoy Hayward is one of the UK's largest firms of accountants. It had a particularly strong presence in the Defence Sector during the 1980s and, because of this, has long-standing connections with the intelligence services.

According to his former colleagues Grunberg was one of the rising stars on the consulting side of Stoy Hayward. However upheavals in Stoy Hayward's senior management precipitated his falling from grace. While at BDO Stoy Hayward he was keen on charity work. He is a director of Tommy's Campaign Ltd, a gynacological research charity connected with a London hospital.

Grunberg became a director of Plaza 107, based in the King's Road, Chelsea, in August 1994, along with an ex-BP man, Philip Dimmock. Plaza 107 is simply described as 'a general commercial company' and seems to provide core administrative services for EO. He is also the shareholder.

.Grunberg is also a director of a Canadian mining company quoted on the Vancouver Stock Exchange called DiamondWorks. Grunberg has acknowleged that Sandline and Heritage Oil (see below) are 'clients' of Plaza 107 Ltd which provides 'representation and support services'. Plaza 107's auditor is Grunberg & Co. Nothing like keeping it in the family.

Anthony Leslie Rowland Buckingham

Strategic resources expertise

Aged 47


Special forces background.

Tony Buckingham seems to provide the link between the military side of the Executive Outcomes complex and the management and exploitation of the strategic resources it controls. As such, and in terms of 'following the money', he is the most interesting person.

Buckingham controls the Isle of Man company Branch Energy Ltd, which owns diamond concessions in Angola and Sierra Leone. Branch Energy Ltd is now 100% owned by DiamondWorks (formerly called Carson Gold), which, although publicly quoted on the VSE, is majority-owned by Buckingham and Canadian mining entrepreneur Robert Friedland. Buckingham is a director of DiamondWorks.

To confuse the picture, other companies connected to Branch Energy but, as far as I know, not part of DiamondWorks are Branch Minerals Ltd, which owns gold concessions in Angola and Sierra Leone, and Branch Energy Uganda, which holds gold concessions in that country. Branch International, according to Michael Grunberg, 'searches for precious minerals through its own set of companies'.

Buckingham is also director of UK book publishers Fourth Estate Ltd, which is also part-owned by the Guardian. He lives in Guernsey. There are connections between the Isle of Man company Branch Energy Ltd and Hamilton Brothers Ltd, Hamilton Nominees Ltd, Hansard Management Services Ltd and Hansard Trust Company Ltd, which are all based in Guernsey. The Hansard companies are said to be owned and/or controlled by Buckingham.

Although Buckingham does not show up on Executive Outcomes company documents, the Prospectus of DiamondWorks makes it clear that there is a relationship, stating that Buckingham 'facilitates introductions' for Executive Outcomes to 'certain governments'.

Duriing the late 1980s Buckingham was a director of the UK company Sabre Petroleum Ltd. His associates at Sabre Petroleum included Robert Christiensen and Naushad Jivraj (Tanzanian), both involved with the London Park Hotels group. He resigned from Sabre Petroleum in July 1991.

Following that he founded Heritage Oil and Gas Ltd in 1992. He remains chairman of this company. Former Liberal Party leader, Sir David Steel and Andrew Gifford, his former researcher, are on the board.

First published in Pete Sawyer's 'Assignments Unlimited' homepages May 1998 updated July 1998.

*On the 11th January 1999 Michael Grunberg sent me the following email:

Your report on the Internet is interesting but, ufortunately, wrong in many respects.

1 The signatories to Sandline Holding's Hong Kong bank account were changed BEFORE the contract was let by PNG to Sandline, in fact at the time the shell company was acquired and its name changed. This was confirmed in writing by the bank to the Commission of Inquiry at the time of final submissions, but the fact was ignored in their report, despite a subsequent request to correct the error.

2 I have never advised on EO's corporate structure nor have I ever been involved in that company's administrative management.

3 I was a partner at BDO Stoy Hayward from 1985 (not 1981) to 1994, although I had been an employee for the preceding four years.

4 I resigned from the firm to broaden my horizons, despite the desire of the practice that I stayed on. I do not recall 'falling from grace'.

5 Plaza 107 has never provided 'core administrative services' to EO. EO has never been a client of Plaza 107.

6 DiamondWorks is quoted on the Toronto Stock Exchange, not Vancouver.

Regards Michael Grunberg.

Terms and Conditions of use
Go to NC Links
Go to Agit
Web site design, graphics and all content Copyright Pete Sawyer 2001-2005 unless otherwise stated.