In 1996, Alex Manoogian passes away at the age of 95. Manoogian separated the building products division from the industrial businesses in an attempt to reduce the bottom-line impact of economic cycles in the automotive and housing markets. [2], The 4,000-square-foot (370m2) Manoogian Mansion is located along the Detroit River, several miles east of Downtown Detroit. Major criticisms were that Manoogian was running Masco as a private family business although stock was publicly held . Alex moves to Detroit, where he takes a job in a screw machine shop. He promised to sever ownership of Masco Tech but was unable (860) 571-5100 Manoogian separated the building products Unknown to him or the firemen around him, a heavy load of snow on the roof melted and greatly reduced the damage. Philanthropy and civic involvement were already a family tradition the first time Richard Manoogian joined a nonprofit board almost 50 years ago but since then, it . U.S.A. He also worked for short periods in Rhode Island and in Massachusetts. 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. In 1968 he established the AGBU Alex and Marie Manoogian Cultural Fund. Wayne B. Lyon became president of Masco in 1985, and Richard Manoogian served as chairman and CEO of both . Member of the Board of Bank One (1978-2004) However, acquisition of several furniture makers proved ill-advised. Masco stock is admitted to trading on the American Stock Exchange. Richard Manoogian's House in Grosse Pointe Park, MI (Google Maps) Robert Jewett-Lives out of state. Facebook gives people the. He was the founder of the Masco Corporation,[1] which in 1969[2] was listed on the NYSE (XNYS:MAS). million dollar write-off. billion of debt on the books. Masco is pleased to announce that it has made a donation to HomeAid America in honor of Richard Manoogian, who recently concluded his service on Masco's Board of Directors after 56 years, including 27 years as Chairman of the Board. Alexander Manoogian (Armenian: ; June 28, 1901 July 10, 1996) was an Armenian-American industrial engineer, businessman, entrepreneur and philanthropist who spent most of his career in Detroit, Michigan. In 1983, Mascos annual sales exceed $1 billion. "Masco's Manoogian retires as executive chairman", "Masco's Board of Directors Elects Keith J. Allman to Succeed Timothy Wadhams as President and CEO", "Masco Corporation Relocates Global Headquarters to Livonia, Michigan", "Sale of Kichler Lighting completed; purchase price is $550 million", "Cabinetworks formed after ACProducts completes Masco purchase", "Hot Tub Leader Watkins Manufacturing Corporation Acquires Aquatic Fitness Innovator Endless Pools, Inc", "MI Windows and Doors completes acquisition of Milgard Windows & Doors", https://en.wikipedia.org/w/index.php?title=Masco&oldid=1130295082, Companies listed on the New York Stock Exchange, Manufacturing companies based in Michigan, Companies based in Wayne County, Michigan, Manufacturing companies established in 1929, Articles with dead external links from January 2022, Short description is different from Wikidata, Articles with unsourced statements from January 2012, Creative Commons Attribution-ShareAlike License 3.0, Milgard Windows & Doors SOLD to Mi Windows and Doors 2019. Richard Alexander Manoogian is a resident of MI. Richard G Manoogian, Seekonk Public Records Instantly thousand paintings was valued at more than $250 million, making it one of Please share any feedback you have about Foundation Directory Online. In addition, Manoogian acquired several companies that had been fierce competitors and had no real intention of working together effectively once they shared the same parent company. Member of the Board of MSX International (1997-2004) Marriage and family. It has always had a statewide program, but its going to become much bigger and more enhanced.. The Company receives its first contract from the Hudson Motor Car Company for $7,000 and reports gross sales of $66,000 for 1930, the first full year of operation. The surge in applications for new businesses, which peaked during the pandemic, remains at historic levels in Michigan and across the U.S. CNN Worldwide GPS Host Fareed Zakaria joins the speaker lineup for the Detroit Regional Chamber's 2023 Mackinac Policy Conference. Masco announced a 2 for 1 stock split, which was the ninth time the company had split its shares since 1960 and was the 40th year in a row that its dividends were increased. Masco's strength was automation of the manufacturing process. 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.
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