Ronald Kramer (business)
| Ronald J. Kramer | |
|---|---|
| Born |
1958 U.S. |
| Alma mater |
University of Pennsylvania (B.S.) New York University (MBA) |
| Occupation |
CEO of Griffon Corporation 2008–present President and Director of Wynn Resorts 2002–2008 |
| Spouse(s) | Stephanie Blau Kramer (1992–present)[1] |
Ronald J. "Ron" Kramer (born 1958) is an American business executive. He is the CEO of Griffon Corporation, a conglomerate holding company headquartered in New York, New York.[2][3]
Kramer received a B.S. from the Wharton School of the University of Pennsylvania in 1980 and a MBA from New York University in 1981.[4][5] He started his career at Citibank and then worked as a corporate finance specialist at Ladenburg Thalmann, a New York-based investment bank, for thirteen years, becoming Chairman and CEO in 1995.[6] In 1999, Kramer became a Managing Director and Partner at Wasserstein Perella & Co. and its successor Dresdner Kleinwort Wasserstein. Kramer left Wall Street in 2002 to become President and Director of Wynn Resorts Ltd (NASDAQ: WYNN), a Las Vegas-based developer and operator of destination casino resorts.[7]
Kramer succeeded his father-in-law Harvey R. Blau as CEO of Griffon in 2008.[3][8] To improve Griffon's balance sheet, Kramer secured a new $100 million revolving line of credit from JPMorgan Chase, exited the residential installation services business, refinanced Griffon's senior debt, and raised approximately $250 million through a common stock rights offering with investments by Goldman Sachs and Kramer himself.[9] Griffon's recapitalization built a foundation to transform the company for growth. In 2015, Griffon generated over $2 billion in sales with approximately 6,000 employees worldwide.[10]
Griffon operates as a diversified management and holding company, conducting business through its wholly owned subsidiaries: Clopay Building Products, the largest manufacturer of residential garage doors in North America; The AMES Companies, a leading global manufacturer of non-powered lawn and garden tools and accessories; Clopay Plastic Products, a global manufacturer of performance plastic films and laminates for a variety of personal care and industrial uses; and Telephonics Corporation, a manufacturer of advanced electronic surveillance, intelligence and communication systems for defense, aerospace and civil applications.[10]
Kramer has served on the Board of Directors of Leap Wireless International, Monster Worldwide, Sapphire Industrials Corporation, Grand Casinos, Republic Properties, New Valley Corporation, and Lakes Entertainment.[2] Kramer currently serves as the Chairman of the Undergraduate Board of the Wharton School, University of Pennsylvania and as a Director of Mount Sinai Children’s Center, New York. He resides with his wife, Stephanie, and two daughters in New York City.
References
- ↑ "Stephanie Blau Has Wedding". New York Times. April 12, 1992. Retrieved 22 October 2015.
- 1 2 "Executive Profile: Ronald J. Kramer". Bloomberg Business. Retrieved 21 October 2015.
- 1 2 "Griffon Corporation Names Ronald J. Kramer Chief Executive Officer". PR Newswire. March 17, 2008. Retrieved 22 October 2015.
- ↑ "Wharton Undergraduate Executive Board". Wharton School. University of Pennsylvania. Retrieved 22 October 2015.
- ↑ "Class Notes Fall/Winter 2008". STERNbusiness. NYU. Retrieved 22 October 2015.
- ↑ Citrano, Virginia (12 October 2012). "Where is Ronald J. Kramer now?". Crain's 40 Under 50 Anniversary Coverage. Retrieved 22 October 2015.
- ↑ Stutz, Howard (18 March 2008). "Wynn loses company president". Las Vegas Review-Journal. Retrieved 16 January 2013.
- ↑ Bernstein, James (March 18, 2008). "Griffon gets new credit line, CEO". Newsday. pp. A48. Retrieved 22 October 2015.
- ↑ Bernstein, James (23 September 2008). "Griffon expects to raise $250M". Newsday. pp. A48. Retrieved 22 October 2015.
- 1 2 "Griffon Corp. 2015 Annual Report". Retrieved 22 December 2015.