Daniel C. Ferguson

Daniel C. Ferguson
Born (1927-05-05) May 5, 1927
Freeport, Illinois , U.S.
Alma mater Hamilton College (New York) (1948) Stanford University (1950)
Occupation Retired Vice Chairman, CEO & Chairman of the Board of Newell Rubbermaid
Founder, Ferguson Partners, Ferguson Foundation
General Partner of Ferguson Partners & Trustee of the Ferguson Foundation

Daniel C. Ferguson (born May 5, 1927) is an American businessman.

Early life and education

Ferguson was born on May 5, 1927 to Leonard C. Ferguson and Mildred F. Ferguson. Following in his fathers footsteps he attended Hamilton College in New Yorkafter his release from the US Navy in 1946. He graduated in 1948 with a bachelor's degree in Economics and History. During his time there, he served as co-captain of the college basketball team.[1][2]

Business career

In 1950 after earning an MBA from Stanford University he began his business career with Newell Rubbermaid and beginning in 1962, the affiliated Newell Companies, including Western Newell, Newell Window Furnishings and Newell Manufacturing were consolidated into a single corporation and was headquartered in Freeport, Illinois. Daniel C. Ferguson was hired as president that same year and elected as a Director in 1965.[3] He developed a growth-by-acquisition strategy based on his intention to build a strong, multi-product company through "Newellization".[4]

Financing and initial public offering

Newell went public in 1972.[5] A year later, they acquired EZ Paintr Corporation, then the world's largest maker of paint applicators. Newell was listed on the New York Stock Exchange with the ticker symbol (NYSE: NWL) in 1979. In 1982, they acquired propane blow torch makers BernzOmatic from Medina New York. A year later, Mirro, a cookware maker was acquired.[6] He rose to power when they made the largest purchase by the company up to that time in 1987[7] with Anchor Hocking Corporation (which included Amerock), a manufacturer of cabinet hardware and window components.[8][9] and was subsequently elected as a Director of The Northern Trust Bank of Florida[10]

On May 5, 1992, Daniel C. Ferguson moved up to the highest position[11] of Newell replacing his cousin William R. Cuthbert. During 1992, they acquired Sanford L.P., a leading manufacturer and marketer of writing instruments, including the Sharpie, Sanford and Expo user brands. The same year they acquired Intercraft, a leading picture frame manufacturer.[12] A year later, they acquired Levolor, a leading manufacturer and marketer of window treatments. Additionally, they acquired Goody hair care accessories and LeeRowan closet organization products.

Newell became the world's largest manufacturer of picture frames, framed art and photo albums with the acquisition of Holson Burnes in 1996. Newell became the world's largest manufacturer of picture frames, framed art and photo albums with the acquisition of Holson Burnes in 1996. 1997 saw the acquisition of Kirsch, a leader in branded drapery hardware and custom window coverings. On May 7, 1997, at the Company's shareholders meeting questions were raised by the press about alleged improprieties of a vehicle which held approximately 700,000 shares of Newell Company.[13][14] In 1998 they purchased Calphalon Corporation, a manufacturer of gourmet cookware marketed primarily to upscale retailers and department stores. Total Return to Investor moved up to number 3 out of the S&P 500 from 1988 until 1998.

The Newell Rubbermaid merger

Ferguson then attempted a 14 billion dollar merger with Rubbermaid to try to restore confidence of others which failed to produce the expected results. By October 2012, more than 12 years after the merger, the Newell stock price (NYSE: NWL) was still valued at less than half of the 1999 pre-merger price.[15] As of May 2015, the Newell stock price was valued at less than 25 percent of the 1999 pre-merger price.

Philanthropy

Ferguson has donated over five million dollars to Hamilton College in New York.[2]

References

  1. ↑ Hamilton College. "A Sampling of Notable Alumni"
  2. 1 2 Media Relations. "Hamilton Alumnus Donates $5 Million to Support Faculty Programs - News, Sports, Events - Hamilton College". Onthehill.hamilton.edu. Retrieved 2012-10-18.
  3. ↑ "Newell Co. - Company Profile, Information, Business Description, History, Background Information on Newell Co". Referenceforbusiness.com. Retrieved 2012-10-18.
  4. ↑ "Newell Company: Corporate Strategy" (PDF). Retrieved 2012-10-19.
  5. ↑ "Newell Companies, Inc. Deal - Lehman Brothers Collection". Library.hbs.edu. Retrieved 2012-10-18.
  6. ↑ http://www.highbeam.com/doc/1G1-3996269.html
  7. ↑ Gannes, Stuart (1987-04-27). "THE RICHES IN MARKET NICHES The fastest-growing companies on the fringe of this year's FORTUNE 500 hold strong positions in specialized markets. Half are good bets to join next year's list. - April 27, 1987". Money.cnn.com. Retrieved 2012-10-18.
  8. ↑ "Newell Isn't Bagging Big Game Anymore". Businessweek. 1991-07-07. Retrieved 2012-10-18.
  9. ↑ "Newell Denies Threat to Stanley Works". Apnewsarchive.com. 1991-07-31. Retrieved 2012-10-18.
  10. ↑ http://www.sec.gov/Archives/edgar/data/814453/0000895813-98-000076.txt
  11. ↑ "FERGUSON ELECTED NEWELL CHAIRMAN - Free Online Library". Thefreelibrary.com. Retrieved 2012-10-19.
  12. ↑ "Stanley Works Chief Says Newell Merger Would Cause Upheaval - Hartford Courant". Articles.courant.com. 1992-08-04. Retrieved 2012-10-18.
  13. ↑ Young, David (1997-05-07). "Father, Children In Battle Over Millions - Chicago Tribune". Articles.chicagotribune.com. Retrieved 2012-10-18.
  14. ↑ Fitzgerald, Jacqueline (May 8, 1997). "Newell Silent On Probe Request". Chicago Tribune.
  15. ↑ "Case example: Newell and Rubbermaid Corporation". Masteringthemerger.com. Retrieved 2012-10-18.
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