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Alex acquires the rights to the faucet and uses his years of metalworking experience to correct the flaws. Language links are at the top of the page across from the title. Submit a correction or make a comment about this profile, Community Foundation for Southeast Michigan, Friends of Senator D'Amato 1998 Committee, Submit a correction or make a comment about this profile. several companies that had been fierce competitors and had no real Mr. Manoogian is a Director of Ford Motor Company, Business Leaders for Michigan (formerly Detroit Renaissance), Invest . The son of Alex Manoogian, founder of Masco Corporation, Richard joined Masco in 1958 as a recent Yale University graduate with a degree in economics. Following the sudden passing of Ray Kennedy in 2003, Alan Barry becomes Mascos fourth President. Fax: (313) 374-6135 He was the founder of the Masco Corporation,[1] which in 1969[2] was listed on the NYSE (XNYS:MAS). Staying current is easy with Crains news delivered straight to your inbox. Alex Manoogian, founder, acted as president and chief operating officer (COO) from 1929 until 1967. Family Data. In the 1980s Manoogian had spun off the industrial parts manufacturing operation to create Masco Tech, which did not perform well and incurred further losses. He owns a home up the street, one in Vero Beach, Fl. The Manoogian was finally forced to recognize that the furniture division was Masco - Wikipedia In 1942, Mascos annual sales exceed $1 million for the first time. A gilded beech sofa, originally made for the Blue . The son of Alex Manoogian, founder of Masco Corporation, Richard joined Masco in 1958 as . He settles in Bridgeport, Connecticut, working first in a tobacco shop, then as a school bus driver, and later in a confectionery store and silver polishing factory. Access lists of funders based on detailed search criteria and other features such as: Giving primarily for the arts, with emphasis on an art museum; funding also for education, health care, human services, community development, and federated giving programs. Member of the Board of Masco (1964-, as Chairman, 1985-) Initially organized in 1929 as Masco Screw Products Company by Alex Manoogian in Detroit, Michigan. Romero, Gina, "Art Imitates Masco," Gender: MaleRace or Ethnicity: WhiteSexual orientation: StraightOccupation: BusinessParty Affiliation: Republican, Nationality: United StatesExecutive summary: CEO of Masco, 1985-2007. corporations. The company went public on the Detroit Stock Exchange in 1936. Masco begins production and marketing of the Delta faucet. Richard Manoogian, now in his mid-twenties, is spurring the company into a faster pace of growth, reporting sales of $10 million in 1962. He also worked for short periods in Rhode Island and in Massachusetts. Masco manufactured a variety of consumer products that included Merillat Fax: (860) 571-5465 The Schaap Center will house the museum-quality Richard and Jane Manoogian Art . In 1975, Masco Corporation joins the Fortune 500 list of largest U.S. corporations. His collection of more than one (April 27, 2023). Now chairman emeritus of both the DIA and of Taylor-based Masco Corp., he has served on more than 20 corporate and nonprofit boards over the years and said what started as a sense of civic duty soon evolved. and a condo at 15 Central Park West. Richard Manoogian: Continuing the family businesses He also serves on the Savannah College of Art and Design Advisory Committee.Mr. Richard Manoogian is named Mascos President and Chief Operating Officer. In 1935, Mascos annual sales exceed $100,000 for the first time. Staying current is easy with Crain's news delivered straight to your inbox, free of charge. . The original owner lost the home during the Great Depression and it sat vacant until Alex Manoogian, founder of the Masco company, purchased the home at an auction in 1939 for a mere $25,000 ($0.49 million in 2022). Profile Last Updated: Therefore, that information is unavailable for most Encyclopedia.com content. Manoogian sold the business in a leveraged buyout by management, and the company took a $650 million dollar write-off.