Tom Stemberg | |
|---|---|
 Stemberg at one of the first Staples stores | |
| 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
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.[5][6] His father was a lawyer who became a restaurateur.[7] His father was Jewish and his mother was Catholic.[8][9]
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.[7] In 1973, Stemberg graduated from the Harvard Business School receiving his M.B.A. as a George F. Baker Scholar.[3]
Career
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.[10]
In 1986, Stemberg started Staples with backing from private equity firms, including Hambro International Ventures, Harvard Management, Bessemer Ventures, Adler & Company, and Bain Capital;[11] Bain co-founder Mitt Romney served on the company's board of directors for the next 15 years.[12] 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.[11]
In 2005, Stemberg joined Highland Capital Partners, a venture capital firm, in Lexington, Massachusetts, as managing general partner.[13]
Stemberg had an estimated net worth of $202 million, he was a philanthropist who donated funds in areas pertaining to education.[14]
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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.[12] Stemberg encouraged Romney to make healthcare more accessible, which led Romney to reform healthcare in the commonwealth.[15]
Personal life
In 2012, Stemberg was involved in a legal dispute with his first wife, Maureen Sullivan.[16][17]
Stemberg died on October 23, 2015, from gastric cancer. He was 66 years old.[18][19]
References
- ^ 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.
- ^ The Guru Guide to Entrepreneurship: A Concise Guide to the Best Ideas from ... - Joseph H. Boyett, Jimmie T. Boyett – Google Books-
- ^ 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. Retrieved August 31, 2012.
{{cite web}}: CS1 maint: deprecated archival service (link) - ^ 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.
| International | |
|---|---|
| National | |
- 1949 births
- 2015 deaths
- 20th-century American businesspeople
- American company founders
- American grocers
- American people of Austrian-Jewish descent
- American chief executives in retailing
- Businesspeople from Massachusetts
- Businesspeople from Essex County, New Jersey
- Deaths from stomach cancer in Massachusetts
- Harvard University alumni
- Harvard Business School alumni
- Massachusetts Republicans
- People from Orange, New Jersey
- Private equity and venture capital investors
- American retail company founders
- Staples Inc. people
