Stanley Gault Explained

Stanley Carleton Gault (January 6, 1926 – June 29, 2016) was an American businessman.

Early life and education

He was born on January 6, 1926, in Wooster, Ohio, to Clyde and Asenath Gault.^[1] He graduated from the College of Wooster in 1948 with a bachelor's degree in geology, and remained as Chairman Emeritus of the Board. While studying at the College of Wooster, he served in the Army Air Corps as a B-29 gunner during World War II.

Career

Gault spent 31 years with General Electric in various positions, including being head of G.E.'s consumer products division and later its industrial products division.^[2] In 1979, he was named Chairman of the Board and CEO of Rubbermaid.^[3] After taking over at Rubbermaid, Gault removed all but two managers at the company and reorganized it. He led the company through a series of divestitures and strategic investments that increased the company's profitability.^[4] While he stripped weak product lines and slashed excess cost, he invested in new product development.^[5] Later Rubbermaid CEOs, including Wolfgang Schmitt, were seen as less than adequate compared to Gault and the company's profits dropped. Rubbermaid ended up being bought in 1999 by a competitor, Newell.

Starting in 1985, Gault was appointed as a director at Avon Products, Inc.^[6] He became CEO and Chairman of The Goodyear Tire and Rubber Company after retiring from Rubbermaid in 1991.

In 1994, he was inducted into Junior Achievement's U.S. Business Hall of Fame.^[7] In 1995, Gault received the Golden Plate Award of the American Academy of Achievement.^[8]

In 2001, Gault stepped down as director at Avon.

Gault died on June 29, 2016, in Cleveland, Ohio, after a brief illness.^[9] Gault often donated to the city of Wooster and his alma mater.

Notes and References

1. News: Goldstein. Matthew. 2016-07-06. Stanley Gault, Who Led Rubbermaid and Goodyear, Dies at 90 (Published 2016). en-US. The New York Times. 2020-10-14. 0362-4331.
2. Web site: 30 June 2016. End of era: Gault passes away at 90. dead. https://web.archive.org/web/20160701132503/http://www.the-daily-record.com/local%20news/2016/06/30/end-of-era-gault-passes-away-at-90. 1 July 2016. The Daily Record.
3. News: Avon Chief Adds Post. 19 September 2011. New York Times. 7 September 2001.
4. Web site: Man who is Stan Gault: Things you know, and some you didn't. 2020-10-14. The Daily Record. en.
5. News: Deutsch. Claudia H.. 1998-10-22. Newell Buying Rubbermaid in $5.8 Billion Deal (Published 1998). en-US. The New York Times. 2020-10-14. 0362-4331.
6. News: Gilpin. Kenneth N.. Purdum. Todd S.. 1985-04-16. BUSINESS PEOPLE ;Lenox Head Named President of Avon (Published 1985). en-US. The New York Times. 2020-10-14. 0362-4331.
7. Web site: Nulty. Peter. 4 April 1994. THE NATIONAL BUSINESS HALL OF FAME - April 4, 1994. 2020-10-14. CNN Money.
8. Web site: Golden Plate Awardees of the American Academy of Achievement. Academy of Achievement. American Academy of Achievement.
9. Web site: The College of Wooster Mourns the Loss of Stanley C. Gault The College of Wooster. 2016-06-30. Wooster College.