Phillip Owen Wallace BEM is a British businessman and chairman of EFL League Two association football club Stevenage F.C. Business interests Phil Wallace is the CEO of Lamex Food Group, a global food trading company with 21 offices in 16 countries. He joined in 1972 when the company, then known as L+M Foods, were a small food importer based in London. He became a director in 1975 and was appointed managing director and majority shareholder in the early 1980s. Since then the company has added offices around the world and the continuing growth in the Group lead to a US$50 million management buyout in 2006, with Phil Wallace still retaining a significant holding in the newly formed parent, Lamex Food Group. He continues to lead the Group from his bases in the UK and US. He was a director of The Football Conference for five years and served as Vice Chairman for two years, resigning his position in 2006 to concentrate on his US business interests. Chairman of Stevenage F.C. In 1999, he purchased a 90% holding in Stevenage F.C. after it was reported that the club were days from closing. Since then the club's finances have been rebuilt and the stadium improved to a 7,100 capacity. The improvements implemented by Wallace included a new £600,000 stand opening, and work on a new £2.5 million training facility was announced for nearby Shephalbury Park - which subsequently opened in 2002. The club also continued to improve on the pitch under Wallace's chairmanship. During the 2001–02 season, Stevenage reached the FA Trophy final at Villa Park, but lost 2–0 in the final. Wallace continued to run a tight ship as Stevenage showed signs of gradual improvement. Stevenage became the first side to win a competitive final at the new Wembley Stadium in May 2007; winning 3–2 in the final in front of a competition record crowd of 53,262. This success was repeated again in 2009, when Stevenage Borough defeated York City in the final 2–0. In 2010, they competed in the FA Trophy final at Wembley Stadium once again. The following year, on 17 April 2010, Stevenage were promoted to the Football League for the first time in the club's history with two games to spare. Promotion was secured thanks to a 2–0 win at Kidderminster Harriers. The title win subsequently meant that Wallace was a chairman of a Football League club