(AFX) - Maytag company leaders:
Frederick L. Maytag
Ran Maytag: 1909-1921
Founded the company as a farm implement manufacturer and led it to become a major washing machine innovator and manufacturer.
Lewis Bergman 'Bud' Maytag
Ran Maytag: 1921-1926
Son of Maytag founder F.L. Maytag and a graduate of Iowa State University's mechanical engineering program. Maytag went public in 1925, traded on the New York Stock Exchange. L.B. Maytag moved to Colorado Springs, Colo., in 1926 and his younger brother, E.H. Maytag took over company management. L.B. served on the company board until 1966.
Elmer Henry Maytag
Ran Maytag: 1926-1940
Son of Maytag founder F.L. Maytag. Ran the company through the Depression, maintaining profitability throughout. Was credited with being the first to introduce the idea of making washing machines to his father in the early 1900s.
In 1937, a labor union was organized at the Maytag plant, creating such furor and concern that the Iowa National Guard was sent to declare martial law. The Maytag family and workers eventually settled their differences.
E.H. Maytag also bought a farm and maintained a herd of dairy cattle. His sons, F.L. Maytag II and Robert Maytag began a cheese processing operation, which continues to make the world famous Maytag Blue Cheese in Newton.
Frederic L. Maytag II
Ran Maytag: 1940-1962
Son of E.H. Maytag, who took over management of Maytag at age 28 when his father died. With the guidance of George Umbreit, a company vice president, the company modernized with a $40 million capital spending plan and expanded the number of manufacturing plants. Significant increases in sales were recorded and the company assets grew. F.L. Maytag II was the last Maytag family member to manage the company.
George Umbreit
E.G. Higdon
Ran Maytag 1962-1974
After the death of F.L. Maytag II in 1962, Umbreit, who had been a vice president was named chairman and chief executive officer and Higdon, the chief financial officer, was named president. It is the first time in the company's history that professional managers not members of the Maytag family ran the company.
Higdon, a former Federal Reserve Bank of Chicago president, became chairman in 1972. His career at Maytag, which ended in 1974, spanned 40 years.
They are credited with expanding the company beyond laundry to other appliances and improving profitability throughout their tenure.
In 1967, the character of Ol' Lonely, the lonely Maytag repairman was introduced on television.
Daniel J. Krumm
Ran Maytag: 1974-1992
Expanded Maytag to an international company, leading it to be one of the top four appliance manufacturers in North America.
Leonard Hadley
Ran Maytag: 1992-1999
Retired from Maytag at the mandatory age of 65, but was asked to return by the board of directors when his successor, Lloyd Ward, unexpectedly resigned.
Lloyd Ward
Ran Maytag: Aug. 12, 1999-Nov. 9, 2000
The company's stock price fell from as high as $70 in July 1999 to $28.19 at the close of trading on the day of his departure in November 2000.
Leonard Hadley
Ran Maytag: November 2000-June 2001
Returned at the request of the board of directors on an interim basis from November 2000-June 2001 after Ward's departure.
Ralph Hake
Ran Maytag: June 2001-March 2006
Was chief financial officer and executive vice president at Fluor Corp., but he spent 12 years at Whirlpool Corp., one of Maytag's chief competitors and the company that ended up buying Maytag in March 2006. The company stock value, market share and profitability waned to the point that it began entertaining buyout offers in 2005. Contractual agreements Hake had signed with the company allowed him to leave Maytag April 3 with a benefits package worth an estimated $20 million. The nearly 1,800 Maytag workers in Newton would learn 37 days later that they would no longer have jobs.
Sources: Maytag Corp. history, Maytag Collectors Club, Jasper County Historical Museum, Leonard Hadley.
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© 2006 AFX News
