Thomas G. Stemberg: Difference between revisions
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{{short description|American businessman}} |
{{short description|American businessman}} |
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{{Use mdy dates|date=October 2015}} |
{{Use mdy dates|date=October 2015}} |
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{{Infobox person |
{{Infobox person |
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|name = Tom Stemberg |
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|image = Tom Stemberg Staples.jpeg |
|image = Tom Stemberg Staples.jpeg |
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|image_size = |
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|caption = Thomas Stemberg at one of the first Staples stores |
|caption = Thomas Stemberg at one of the first Staples stores |
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|birth_name |
|birth_name = Thomas George Stemberg |
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|birth_date = {{ |
|birth_date = {{birth date|1949|1|18}} |
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|birth_place = [[Orange, New Jersey]], U.S. |
|birth_place = [[Orange, New Jersey]], U.S. |
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|death_date |
|death_date = {{death date and age|2015|10|23|1949|1|18}} |
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|death_place |
|death_place = [[Chestnut Hill, Massachusetts]], U.S. |
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|education = [[Harvard University]] ([[Bachelor of Arts|BA]], [[Master of Business Administration|MBA]]) |
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|residence = |
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|alma_mater = [[Harvard University]]<br />[[Harvard Business School]] |
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|party = [[Republican Party (United States)|Republican]] |
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|nationality = American |
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|occupation = Managing General Partner at [[Highland Capital Partners]] |
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|salary = |
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|networth = |
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|children = |
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|website = |
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'''Thomas George Stemberg''' (January 18, 1949 – October 23, 2015) was an American businessman, investor, and philanthropist. He was a pioneer of the office supplies superstore industry, most notably for founding office supply retail chain [[Staples Inc.]] with [[Leo Kahn (entrepreneur)|Leo Kahn]].<ref name=nytimes>{{cite news |first=Douglas|last=Martin|title=Leo Kahn, Trailblazer in Big-Box Retailing, Dies at 94 |url=https://www.nytimes.com/2011/05/13/business/13kahn.html|work=[[New York Times]]|date= May 12, 2011 |accessdate=May 22, 2011}}</ref><ref name=wp>{{cite news |first=T. Rees |
'''Thomas George Stemberg''' (January 18, 1949 – October 23, 2015) was an American businessman, investor, and philanthropist. He was a pioneer of the office supplies superstore industry, most notably for founding office supply retail chain [[Staples Inc.]] with [[Leo Kahn (entrepreneur)|Leo Kahn]].<ref name=nytimes>{{cite news |first=Douglas|last=Martin|title=Leo Kahn, Trailblazer in Big-Box Retailing, Dies at 94 |url=https://www.nytimes.com/2011/05/13/business/13kahn.html|work=[[New York Times]]|date= May 12, 2011 |accessdate=May 22, 2011}}</ref><ref name=wp>{{cite news |first=T. Rees |last=Shapiro |title=Leo Kahn, entrepreneur who helped found Staples office-supply business, dies at 94 |url=https://www.washingtonpost.com/local/obituaries/leo-kahn-entrepreneur-who-helped-found-staples-office-supply-business-dies-at-94/2011/05/13/AFGKEi3G_story.html |newspaper=[[Washington Post]] |date=May 14, 2011 |accessdate=May 22, 2011 |archive-date=January 19, 2019 |archive-url=https://web.archive.org/web/20190119181051/https://www.washingtonpost.com/local/obituaries/leo-kahn-entrepreneur-who-helped-found-staples-office-supply-business-dies-at-94/2011/05/13/AFGKEi3G_story.html |url-status=live }}</ref><ref name="autogenerated3" /> |
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== Early life and education == |
== Early life and education == |
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Stemberg was born on January 18, 1949 in [[Orange, New Jersey]],<ref name=book1>[https://books.google.com/books?id=3zBIR9flC9wC&pg=PA304 The Guru Guide to Entrepreneurship: A Concise Guide to the Best Ideas from ... - Joseph H. Boyett, Jimmie T. Boyett – Google Books<!-- Bot generated title -->]-</ref> the son of immigrants from [[Vienna]], Austria, Erika (née Ratzer) and Oscar Michael Stemberg.<ref name=book1 /><ref>{{Cite web|url=https://www.domainmarket.com/buynow/theghostnation.com|title=TheGhostNation.com is available at DomainMarket.com|website=TheGhostNation.com is available at DomainMarket.com}}</ref><ref>{{cite news| url=https://www.nytimes.com/2004/01/11/business/executive-life-the-boss-an-austrian-advantage.html | work=The New York Times | first=Thomas G. | last=Stemberg | title=EXECUTIVE LIFE: THE BOSS; An Austrian Advantage | date=January 11, 2004}}</ref><ref>{{Cite book | url=https://books.google.com/books?id=zecLAQAAMAAJ&q=Oscar+Michael+Erika+(Ratzer)+Stemberg | title=Who's who in Finance and Industry| isbn=978-0-8379-0334-7| year=1999| last1=Who| first1=Marquis Who's}}</ref> His father was a lawyer who became a restaurateur. |
Stemberg was born on January 18, 1949, in [[Orange, New Jersey]],<ref name=book1>[https://books.google.com/books?id=3zBIR9flC9wC&pg=PA304 The Guru Guide to Entrepreneurship: A Concise Guide to the Best Ideas from ... - Joseph H. Boyett, Jimmie T. Boyett – Google Books<!-- Bot generated title -->]-</ref> the son of immigrants from [[Vienna]], Austria, Erika (née Ratzer) and Oscar Michael Stemberg.<ref name=book1 /><ref>{{Cite web|url=https://www.domainmarket.com/buynow/theghostnation.com|title=TheGhostNation.com is available at DomainMarket.com|website=TheGhostNation.com is available at DomainMarket.com}}</ref><ref>{{cite news| url=https://www.nytimes.com/2004/01/11/business/executive-life-the-boss-an-austrian-advantage.html | work=The New York Times | first=Thomas G. | last=Stemberg | title=EXECUTIVE LIFE: THE BOSS; An Austrian Advantage | date=January 11, 2004}}</ref><ref>{{Cite book | url=https://books.google.com/books?id=zecLAQAAMAAJ&q=Oscar+Michael+Erika+(Ratzer)+Stemberg | title=Who's who in Finance and Industry| isbn=978-0-8379-0334-7| year=1999| last1=Who| first1=Marquis Who's| publisher=Marquis Who's Who.}}</ref> His father was a lawyer who became a restaurateur.<ref name=autogenerated1>{{Cite web|url=http://hbswk.hbs.edu/archive/1676.htmlalumni-achievement-awards-2000-thomas-g-stemberg|title=Alumni Achievement Awards 2000: Thomas G. Stemberg|website=HBS Working Knowledge}}</ref> His father was Jewish and his mother was Catholic.<ref>{{Cite news | url=https://www.nytimes.com/2015/10/24/business/thomas-g-stemberg-co-founder-of-staples-dies-at-66.html | title=Thomas G. Stemberg, Who Joined a Rival to Found Staples, Dies at 66| newspaper=The New York Times| date=October 23, 2015| last1=Roberts| first1=Sam}}</ref><ref>{{cite web | url=http://people.famouswhy.com/tom_stemberg/ | title=Tom Stemberg | publisher=FamousWhy | accessdate=March 27, 2013}}</ref> |
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At Harvard College, he headed on managerial roles at Harvard Student Agencies, a hands-on organization of campus businesses, and the Harvard Independent, a newly established student newspaper.<ref name=autogenerated1 /> In 1973, Stemberg graduated from the Harvard Business School receiving his M.B.A. as a George F. Baker Scholar.<ref name=autogenerated3>{{cite web | url=http://www.highbeam.com/doc/1G2-3427100214.html | archive-url=https://web.archive.org/web/20160409172322/https://www.highbeam.com/doc/1G2-3427100214.html | url-status=dead | archive-date=April 9, 2016 | title=Stamberg, Thomas | publisher=Highbeam Research | accessdate=March 27, 2013}}</ref> |
At Harvard College, he headed on managerial roles at Harvard Student Agencies, a hands-on organization of campus businesses, and the Harvard Independent, a newly established student newspaper.<ref name=autogenerated1 /> In 1973, Stemberg graduated from the Harvard Business School receiving his M.B.A. as a George F. Baker Scholar.<ref name=autogenerated3>{{cite web | url=http://www.highbeam.com/doc/1G2-3427100214.html | archive-url=https://web.archive.org/web/20160409172322/https://www.highbeam.com/doc/1G2-3427100214.html | url-status=dead | archive-date=April 9, 2016 | title=Stamberg, Thomas | publisher=Highbeam Research | accessdate=March 27, 2013}}</ref> |
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== Career == |
== Career == |
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He started his career with the Jewel Company's [[Star Market]]s where he became the vice president for the company's sales and merchandising division.<ref>https://books.google. |
He started his career with the Jewel Company's [[Star Market]]s where he became the vice president for the company's sales and merchandising division.<ref>{{Cite book |last=Boyett |first=Joseph H. |url=https://books.google.com/books?id=3zBIR9flC9wC&q=Thomas&pg=PA304 |title=The Guru Guide to Entrepreneurship: A Concise Guide to the Best Ideas from the World's Top Entrepreneurs |last2=Boyett |first2=Jimmie T. |date=2002-03-14 |publisher=John Wiley & Sons |isbn=978-0-471-43686-7 |language=en}}</ref> |
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In 1986, Stemberg started Staples with backing from private equity firms, including Hambro International Ventures, Harvard Management, Bessemer Ventures, Adler & Company, and [[Bain Capital]];<ref name=autogenerated2>{{cite book|url=https://books.google.com/books?id=3zBIR9flC9wC&pg=PA304 |title=The Guru Guide to Entrepreneurship|work=google.ca|accessdate=October 23, 2015|isbn=978-0-471-43686-7|last1=Boyett|first1=Joseph H.|last2=Boyett|first2=Jimmie T.|date=March 14, 2002}}</ref> Bain co-founder [[Mitt Romney]] served on the company's board of directors for the next 15 years.<ref name="herald2012">{{cite web| url= http://www.bostonherald.com/news/us_politics/view/20220830stemberg_preps_for_stem-winder_praising_romney/ | title= Thomas Stemberg preps for Stem-winder praising Mitt Romney | date= August 30, 2012 | first= Donna |last=Goodison | work= [[Boston Herald]]| accessdate=August 31, 2012}}</ref> By 1999, Staples had worldwide sales of over US$7 billion, with more than one thousand superstores, mail order catalogs, e-commerce outlets, and a contract business.<ref name=autogenerated2 /> |
In 1986, Stemberg started Staples with backing from private equity firms, including Hambro International Ventures, Harvard Management, Bessemer Ventures, Adler & Company, and [[Bain Capital]];<ref name=autogenerated2>{{cite book|url=https://books.google.com/books?id=3zBIR9flC9wC&pg=PA304 |title=The Guru Guide to Entrepreneurship|work=google.ca|accessdate=October 23, 2015|isbn=978-0-471-43686-7|last1=Boyett|first1=Joseph H.|last2=Boyett|first2=Jimmie T.|date=March 14, 2002|publisher=John Wiley & Sons }}</ref> Bain co-founder [[Mitt Romney]] served on the company's board of directors for the next 15 years.<ref name="herald2012">{{cite web | url= http://www.bostonherald.com/news/us_politics/view/20220830stemberg_preps_for_stem-winder_praising_romney/ | title= Thomas Stemberg preps for Stem-winder praising Mitt Romney | date= August 30, 2012 | first= Donna | last= Goodison | work= [[Boston Herald]] | accessdate= August 31, 2012 | archive-date= January 18, 2013 | archive-url= https://archive.today/20130118102527/http://www.bostonherald.com/news/us_politics/view/20220830stemberg_preps_for_stem-winder_praising_romney/ | url-status= live }}</ref> By 1999, Staples had worldwide sales of over US$7 billion, with more than one thousand superstores, mail order catalogs, e-commerce outlets, and a contract business.<ref name=autogenerated2 /> |
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In 2005, Stemberg joined [[Highland Capital Partners]], a [[venture capital]] firm, in [[Lexington, Massachusetts]] as managing general partner.<ref>[http://www.allbusiness.com/retail-trade/4299665-1.html Founder and Former CEO of Staples Joins Highland Capital Partners] from allbusiness.com</ref> |
In 2005, Stemberg joined [[Highland Capital Partners]], a [[venture capital]] firm, in [[Lexington, Massachusetts]], as managing general partner.<ref>[http://www.allbusiness.com/retail-trade/4299665-1.html Founder and Former CEO of Staples Joins Highland Capital Partners] from allbusiness.com</ref> |
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Stemberg had an estimated net worth of $202 million, he was a philanthropist who donated funds in areas pertaining to education.<ref>{{Cite web|url=https://www.thesquander.com/net-worth-founding-ceo-staples-tom-stemberg|title=Net Worth: Founding CEO of Staples Tom Stemberg|date=2017-12-22|website=The Squander|language=en-US|access-date=2020-04-02}}</ref> |
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[[File:Tom Stemberg (7898355960) (cropped).jpg|thumb|Stemberg speaking at the [[2012 Republican National Convention|2012 RNC]]]] |
[[File:Tom Stemberg (7898355960) (cropped).jpg|thumb|Stemberg speaking at the [[2012 Republican National Convention|2012 RNC]]]] |
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== Personal life == |
== Personal life == |
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In 2012, Stemberg was involved in a legal dispute with his first wife, Maureen Sullivan |
In 2012, Stemberg was involved in a legal dispute with his first wife, Maureen Sullivan.<ref>[http://www.sfgate.com/business/bloomberg/article/Staples-Founder-s-Ex-Wife-Favors-Unsealing-3979194.php] from SFGate.com</ref><ref>{{cite web|url=http://ace.mu.nu/archives/334186.php|title=Ace of Spades HQ|work=mu.nu|accessdate=October 23, 2015|archive-date=October 26, 2015|archive-url=https://web.archive.org/web/20151026032256/http://ace.mu.nu/archives/334186.php|url-status=live}}</ref> |
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Stemberg died on October 23, 2015 from gastric cancer. He was 66 years old.<ref>{{cite web|url=http://fortune.com/2015/10/23/staples-founder-tom-stemberg-dies/|title=Staples founder Tom Stemberg dies|work=Fortune|accessdate=October 23, 2015}}</ref><ref>{{cite web|url=https://www.bostonglobe.com/business/2015/10/23/staples-founder-thomas-stemberg-dies/3i4GgQA1zIxieMYAeZFmkJ/story.html|title=Staples founder Thomas Stemberg dies at 66|work=BostonGlobe.com|accessdate=October 23, 2015}}</ref> |
Stemberg died on October 23, 2015, from gastric cancer. He was 66 years old.<ref>{{cite web|url=http://fortune.com/2015/10/23/staples-founder-tom-stemberg-dies/|title=Staples founder Tom Stemberg dies|work=Fortune|accessdate=October 23, 2015}}</ref><ref>{{cite web|url=https://www.bostonglobe.com/business/2015/10/23/staples-founder-thomas-stemberg-dies/3i4GgQA1zIxieMYAeZFmkJ/story.html|title=Staples founder Thomas Stemberg dies at 66|work=BostonGlobe.com|accessdate=October 23, 2015|archive-date=February 16, 2021|archive-url=https://web.archive.org/web/20210216021502/https://www.bostonglobe.com/business/2015/10/23/staples-founder-thomas-stemberg-dies/3i4GgQA1zIxieMYAeZFmkJ/story.html|url-status=live}}</ref> |
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== References == |
== References == |
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[[Category:2015 deaths]] |
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[[Category:20th-century American businesspeople]] |
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[[Category:American company founders]] |
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[[Category:American grocers]] |
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[[Category:Businesspeople from New Jersey]] |
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[[Category:Deaths from stomach cancer in the United States]] |
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[[Category:Harvard University alumni]] |
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[[Category:Harvard Business School alumni]] |
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[[Category:Private equity and venture capital investors]] |
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[[Category:Retail company founders]] |
[[Category:Retail company founders]] |
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[[Category:Staples Inc. people]] |
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[[Category:20th-century American businesspeople]] |
Latest revision as of 01:52, 15 March 2024
Tom Stemberg | |
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Born | Thomas George Stemberg January 18, 1949 Orange, New Jersey, U.S. |
Died | October 23, 2015 | (aged 66)
Education | Harvard University (BA, MBA) |
Known for | Founder, Chairman, and Chief Executive Officer of Staples Inc. |
Political party | Republican |
Spouse(s) | Maureen Sullivan (divorced) Dola Hamilton (divorced) Katherine Chapman O’Gara |
Thomas George Stemberg (January 18, 1949 – October 23, 2015) was an American businessman, investor, and philanthropist. He was a pioneer of the office supplies superstore industry, most notably for founding office supply retail chain Staples Inc. with Leo Kahn.[1][2][3]
Early life and education
[edit]Stemberg was born on January 18, 1949, in Orange, New Jersey,[4] the son of immigrants from Vienna, Austria, Erika (née Ratzer) and Oscar Michael Stemberg.[4][5][6][7] His father was a lawyer who became a restaurateur.[8] His father was Jewish and his mother was Catholic.[9][10]
At Harvard College, he headed on managerial roles at Harvard Student Agencies, a hands-on organization of campus businesses, and the Harvard Independent, a newly established student newspaper.[8] In 1973, Stemberg graduated from the Harvard Business School receiving his M.B.A. as a George F. Baker Scholar.[3]
Career
[edit]He started his career with the Jewel Company's Star Markets where he became the vice president for the company's sales and merchandising division.[11]
In 1986, Stemberg started Staples with backing from private equity firms, including Hambro International Ventures, Harvard Management, Bessemer Ventures, Adler & Company, and Bain Capital;[12] Bain co-founder Mitt Romney served on the company's board of directors for the next 15 years.[13] By 1999, Staples had worldwide sales of over US$7 billion, with more than one thousand superstores, mail order catalogs, e-commerce outlets, and a contract business.[12]
In 2005, Stemberg joined Highland Capital Partners, a venture capital firm, in Lexington, Massachusetts, as managing general partner.[14]
Stemberg had an estimated net worth of $202 million, he was a philanthropist who donated funds in areas pertaining to education.[15]
Stemberg, a political supporter of Mitt Romney since Romney ran for the U.S. Senate in 1994, spoke on Romney's behalf at the 2012 Republican National Convention.[13] Stemberg encouraged Romney to make healthcare more accessible, which led Romney to reform healthcare in the commonwealth.[16]
Personal life
[edit]In 2012, Stemberg was involved in a legal dispute with his first wife, Maureen Sullivan.[17][18]
Stemberg died on October 23, 2015, from gastric cancer. He was 66 years old.[19][20]
References
[edit]- ^ Martin, Douglas (May 12, 2011). "Leo Kahn, Trailblazer in Big-Box Retailing, Dies at 94". New York Times. Retrieved May 22, 2011.
- ^ Shapiro, T. Rees (May 14, 2011). "Leo Kahn, entrepreneur who helped found Staples office-supply business, dies at 94". Washington Post. Archived from the original on January 19, 2019. Retrieved May 22, 2011.
- ^ a b "Stamberg, Thomas". Highbeam Research. Archived from the original on April 9, 2016. Retrieved March 27, 2013.
- ^ a b The Guru Guide to Entrepreneurship: A Concise Guide to the Best Ideas from ... - Joseph H. Boyett, Jimmie T. Boyett – Google Books-
- ^ "TheGhostNation.com is available at DomainMarket.com". TheGhostNation.com is available at DomainMarket.com.
- ^ Stemberg, Thomas G. (January 11, 2004). "EXECUTIVE LIFE: THE BOSS; An Austrian Advantage". The New York Times.
- ^ Who, Marquis Who's (1999). Who's who in Finance and Industry. Marquis Who's Who. ISBN 978-0-8379-0334-7.
- ^ a b "Alumni Achievement Awards 2000: Thomas G. Stemberg". HBS Working Knowledge.
- ^ Roberts, Sam (October 23, 2015). "Thomas G. Stemberg, Who Joined a Rival to Found Staples, Dies at 66". The New York Times.
- ^ "Tom Stemberg". FamousWhy. Retrieved March 27, 2013.
- ^ Boyett, Joseph H.; Boyett, Jimmie T. (March 14, 2002). The Guru Guide to Entrepreneurship: A Concise Guide to the Best Ideas from the World's Top Entrepreneurs. John Wiley & Sons. ISBN 978-0-471-43686-7.
- ^ a b Boyett, Joseph H.; Boyett, Jimmie T. (March 14, 2002). The Guru Guide to Entrepreneurship. John Wiley & Sons. ISBN 978-0-471-43686-7. Retrieved October 23, 2015.
{{cite book}}
:|work=
ignored (help) - ^ a b Goodison, Donna (August 30, 2012). "Thomas Stemberg preps for Stem-winder praising Mitt Romney". Boston Herald. Archived from the original on January 18, 2013. Retrieved August 31, 2012.
- ^ Founder and Former CEO of Staples Joins Highland Capital Partners from allbusiness.com
- ^ "Net Worth: Founding CEO of Staples Tom Stemberg". The Squander. December 22, 2017. Retrieved April 2, 2020.
- ^ Luna, Taryn (October 23, 2015). "Staples founder Thomas Stemberg dies at 66". Boston Globe. Retrieved October 23, 2015.
- ^ [1] from SFGate.com
- ^ "Ace of Spades HQ". mu.nu. Archived from the original on October 26, 2015. Retrieved October 23, 2015.
- ^ "Staples founder Tom Stemberg dies". Fortune. Retrieved October 23, 2015.
- ^ "Staples founder Thomas Stemberg dies at 66". BostonGlobe.com. Archived from the original on February 16, 2021. Retrieved October 23, 2015.
- 1949 births
- 2015 deaths
- 20th-century American businesspeople
- American company founders
- American grocers
- American people of Austrian-Jewish descent
- American retail chief executives
- Businesspeople from Massachusetts
- Businesspeople from New Jersey
- Deaths from cancer in Massachusetts
- Deaths from stomach cancer in the United States
- Harvard University alumni
- Harvard Business School alumni
- Massachusetts Republicans
- People from Orange, New Jersey
- Private equity and venture capital investors
- Retail company founders
- Staples Inc. people