Thomas G. Stemberg

Tom Stemberg
Thomas Stemberg at one of the first Staples stores
Born
Thomas George Stemberg

(1949-01-18)January 18, 1949
Orange, New Jersey, U.S.
DiedOctober 23, 2015(2015-10-23) (aged 66)
Chestnut Hill, Massachusetts, U.S.
EducationHarvard University (BA, MBA)
Known forFounder, Chairman, and Chief Executive Officer of Staples Inc.
Political partyRepublican
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.[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

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 speaking at the 2012 RNC

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

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

  1. ^ Martin, Douglas (May 12, 2011). "Leo Kahn, Trailblazer in Big-Box Retailing, Dies at 94". New York Times. Retrieved May 22, 2011.
  2. ^ 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.
  3. ^ a b "Stamberg, Thomas". Highbeam Research. Archived from the original on April 9, 2016. Retrieved March 27, 2013.
  4. ^ a b The Guru Guide to Entrepreneurship: A Concise Guide to the Best Ideas from ... - Joseph H. Boyett, Jimmie T. Boyett – Google Books-
  5. ^ "TheGhostNation.com is available at DomainMarket.com". TheGhostNation.com is available at DomainMarket.com.
  6. ^ Stemberg, Thomas G. (January 11, 2004). "EXECUTIVE LIFE: THE BOSS; An Austrian Advantage". The New York Times.
  7. ^ Who, Marquis Who's (1999). Who's who in Finance and Industry. Marquis Who's Who. ISBN 978-0-8379-0334-7.
  8. ^ a b "Alumni Achievement Awards 2000: Thomas G. Stemberg". HBS Working Knowledge.
  9. ^ Roberts, Sam (October 23, 2015). "Thomas G. Stemberg, Who Joined a Rival to Found Staples, Dies at 66". The New York Times.
  10. ^ "Tom Stemberg". FamousWhy. Retrieved March 27, 2013.
  11. ^ 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.
  12. ^ 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)
  13. ^ 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.
  14. ^ Founder and Former CEO of Staples Joins Highland Capital Partners from allbusiness.com
  15. ^ "Net Worth: Founding CEO of Staples Tom Stemberg". The Squander. December 22, 2017. Retrieved April 2, 2020.
  16. ^ Luna, Taryn (October 23, 2015). "Staples founder Thomas Stemberg dies at 66". Boston Globe. Retrieved October 23, 2015.
  17. ^ [1] from SFGate.com
  18. ^ "Ace of Spades HQ". mu.nu. Archived from the original on October 26, 2015. Retrieved October 23, 2015.
  19. ^ "Staples founder Tom Stemberg dies". Fortune. Retrieved October 23, 2015.
  20. ^ "Staples founder Thomas Stemberg dies at 66". BostonGlobe.com. Archived from the original on February 16, 2021. Retrieved October 23, 2015.