Richard Manoogian
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Richard A. Manoogian (born 1936, in Detroit, Michigan) is an American businessman.
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[edit] Family
He is the son of Alex Manoogian (the founder of the Masco Corporation).
He is married with three children.
[edit] Education
Manoogian received a B.A. from Yale University in 1960.
[edit] Career
Masco Corporation, 1968–1985, president and chief operating officer; 1985–, chairman and chief executive officer.
[edit] Masco Corporation
Richard Manoogian joined Masco Corporation in 1958. He was elected chairman and chief executive director in 1964 and took over leadership of the company in 1968 when he was named president and chief executive officer.
He became chairman in 1985. Originally known as the Masco Screw Products Company, Masco had been founded by Richard's father, Alex Manoogian, eight days before the U.S. stock market crash of 1929. The primary business was manufacturing machined automotive parts. The company later expanded operations into the building and home improvement industries. In the 1950s Masco revolutionized the faucet industry by perfecting the design of the single-lever hot and cold faucet. The Delta faucet was one of the first one-handled faucets on the market and quickly became the best-selling faucet brand in the United States. The success was due in part to Masco's innovation in marketing and product distribution. The company was the first to market faucets (taps) directly to mass market consumers via television advertisements. The result was a shift in distribution from plumbing wholesalers to retail outlets.
Masco manufactured a variety of consumer products that included Merillat cabinetry, Delta and Peerless faucets, Behr paints and stains, Weiser locks, Thermador appliances, and Baldwin brass. The company's manufacturing facilities were located throughout the United States and Europe. The international operations were located primarily in Belgium, Denmark, Germany, Holland, Italy, Spain, and the United Kingdom. The company's common stock was offered for public trade in 1936.
[edit] Sources
- Reingold, Jennifer; "The Masco Fiasco", Financial World, October 24, 1995, pp. 32–34.
- Romero, Gina; "Art Imitates Masco", Forbes, October 24, 1988, p. 398.
- Rossant, Juliette; "Throwing in the Towel", Forbes, February 26, 1996, p. 14.
- Salomon, R. S., Jr.; "Can an Old Boss Learn New Tricks?" Forbes, July 29, 1996, p. 102.
- Tatge, Mark; A Leaky Affair
